Mumbai, India (BBN) – Indian rupee was trading flat at 66.93 against the US dollar as the American currency gained ground following a spurt in demand from importers.
Forex dealers said the US dollar’s gains against some currencies overseas following upbeat remarks on the US economy by Federal Reserve Chief Janet Yellen and a weak domestic equity market put the rupee on the back foot, reports The Hindu Business Line.
The domestic unit opened a tad weak at 66.94 at the Interbank Foreign Exchange market today.
It hovered in a range of 66.95 and 66.88 before quoting at 66.93 at 3.45 pm local time.
Yesterday, the rupee had recovered by 9 paisa to end at 66.93 on fresh selling of dollar by banks and exporters amid weakness in American currency in the overseas market.
Meanwhile, the benchmark BSE Sensex ended the session lower by 183.75 points or 0.65 per cent at 28,155.56.
The dollar ground out an 11th straight daily rise on Wednesday, as investors’ focus moved to inflation data in the United States for more support for the idea of a rise in Federal Reserve interest rates next month.