The rupee closed nearly flat versus the US dollar on Friday, at 81.96, owing to a strong US currency against major rivals overseas and poor mood in financial markets. Analysts believe that a steep drop in crude oil prices helped the rupee cut losses and close in the green, despite FII outflows keeping gains in check.
The native currency opened at 82.05 against the US dollar on the interbank foreign exchange. During the day’s trading, the unit reached an intraday low of 82.07 and a high of 81.96. The rupee eventually finished at 81.96 against the US dollar, up 1 paise over the previous day. The rupee closed at 81.97 per dollar on Thursday.
The dollar index, which measures the strength of the US dollar against a basket of six currencies, was up 0.63 percent at 103.03. Benchmark for crude oil prices Brent crude was 1.29 percent lower at USD 73.18 a barrel. The 30-share BSE Sensex slid 259.52 points, or 0.41 percent, to end at 62,979.37, while the wider Nifty fell 105.75 points, or 0.56 percent, to end at 18,665.50. According to exchange data, foreign institutional investors (FIIs) were net sellers in the capital markets on Friday, offloading shares worth Rs 344.81 crore.
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