Mumbai, India (BBN) – The rupee was trading flat at 64.70 on persistent month-end dollar demand from importers and banks amid a weak domestic equity market.
The rupee opened flat at 64.70 at the Interbank Foreign Exchange market today. It hovered in a range of 64.83 and 64.68, before quoting at 64.70 at 11.35 pm local time, reports The Hindu Business Line.
According to a forex dealer, a bearish dollar overseas is capping the rupee’s losses.
Globally, the US dollar was lower against its major rivals in early Asian trade, while the euro hit a two-month high and held firm against other major currencies, thanks to strong German business confidence and reduced anxiety about political instability in Europe’s biggest economy.
Meanwhile, the benchmark Sensex was trading down by 80.96 points or 0.24 per cent at 33,598.28.