Rupee trades flat against US dollar
Key Highlights
The Indian rupee traded flat against the US dollar on Friday, holding at its previous close of 95.2650 amid global economic factors.
The Indian rupee traded flat against the US dollar in early trade on Friday. The partially convertible currency remained unchanged from its previous close of 95.2650 recorded on Thursday, as global market factors influenced trading sentiment during the session.
The currency movement followed a weakening dollar and softer US treasury yields. This shift occurred after disappointing earnings reports from major US technology companies, including Alphabet, Amazon and Intel, raised concerns regarding the sustainability of large AI expenditures. During the session, the currency touched a high of 95.2850 and a low of 95.19.
Geopolitical developments in West Asia and rising crude oil prices kept the currency under pressure. Market participants maintained a cautious stance ahead of US midterm elections and upcoming inflation and employment data. These indicators are expected to influence the Federal Reserve’s policy decisions in December. Meanwhile, exchange data showed that offloaded equities worth ₹943.60 crore on a net basis on Thursday. The currency continues to navigate these varied global economic signals while maintaining its current trading level against the dollar.
Based on company and agency reports. For information only; not investment advice.