Rupee trades flat after touching one-week high of 64.88 against US dollar
The home currency had firmed up by 8 paise to trade at an over one-week high of 64.88 against the US dollar currency in opening trade on Wednesday, on dollar selling by exporters and banks amid foreign capital inflows.business Updated: Mar 07, 2018 11:35 IST
The rupee was trading flat in late morning deals on Wednesday, lower by 1 paise, or 0.02% at 64.96.
The home currency had firmed up by 8 paise to trade at an over one-week high of 64.88 against the US dollar currency in opening trade on Wednesday, on dollar selling by exporters and banks amid foreign capital inflows.
The dollar’s weakness against other currencies overseas after a key advocate for free trade in the White House announced his resignation, fanning fears that President Donald Trump would go ahead with import tariff hike and risk a trade war, also supported the rupee sentiment, a currency dealer said.
The domestic unit moved between 64.92 and 64.87 at the interbank forex market in early trade.
The rupee had gained 16 paise to close at 64.96 on steady unwinding of dollars by exporters and corporates on Tuesday.
Foreign portfolio investors (FPIs) bought shares worth Rs 620.08 crore on Tuesday, as per provisional data released by stock exchanges.
Meanwhile, the benchmark BSE Sensex was down by 136.97 points, or 0.41%, to trade at 33,180.23 at 11.28 am on Wednesday.