Rupee Closes Flat At 75.19 Per US Dollar

Rupee Closes Flat At 75.19 Per US Dollar
Rupee Closes Flat At 75.19 Per US Dollar
PTI - 13 July 2020

Mumbai, July 13: The rupee settled Monday on a flat note at 75.19 against the US dollar amid high volatility in the domestic equity market.

The rupee, which opened at 75.20 per dollar, closed at 75.19, up by just one paisa over its previous close. It had settled at 75.20 against the greenback on Friday.

During the four-hour trading session, the domestic unit witnessed an intra-day high of 75.08 and a low of 75.21 against the dollar.

Forex traders said the rupee traded in a range-bound manner tracking high volatility in domestic equities. Moreover, investors awaited cues from consumer price index (CPI) data expected to be released later in the day.

While weak US currency supported the local unit, foreign fund outflows and concerns over rising COVID-19 cases weighed on investor sentiment, traders said.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03 per cent to 96.62.

Meanwhile, the 30-share BSE benchmark Sensex was trading 34.01 points higher at 36,628.34 and broader NSE Nifty was up 13.30 points to 10,781.35 level.

Foreign institutional investors were net sellers in the capital market as they sold shares worth Rs 1,031 crore on Friday, according to provisional exchange data.

Further, Brent crude futures, the global oil benchmark, fell 1.25 per cent to US dollar 42.70 per barrel.