Rupee settles on a flat note, up 2 paise at 76.14 against US dollar

The rupee settled on a flat note, registering a rise of just 2 paise to 76.14 (provisional) against the US dollar on Thursday, tracking weak US dollar and gains in the domestic equity market.

Forex traders said rupee was trading in a narrow range as positive domestic equities and weak US currency supported the local unit, while rising coronavirus cases, border tension with China and foreign fund outflows capped the gains.

The rupee opened at 76.17 against the US dollar, and finally settled for the day at 76.14 against the US dollar, up 2 paise over its previous close.

It had settled at 76.16 against the greenback on Wednesday.

During the four-hour trading session, the rupee saw an intra-day high of 76.08 and a low of 76.19 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 97.10.

The 30-share BSE benchmark Sensex was trading 550 points higher at 34,057.92 and broader NSE Nifty rose 167.85 points to 10,049.

Foreign institutional investors were net sellers in the capital market as they sold shares worth Rs 486.62 crore on Wednesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 0.42 per cent to USD 40.88 per barrel.

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