Rupee Vs Dollar: Rupee ends flat against US dollar amid forex outflows

The rupee remained almost flat on Monday with early gains against the US dollar. This is because weak domestic equities offset the impact of a sharp fall in global crude oil prices, as per PTI reported.

Forex traders noted that a rising US dollar overseas and ongoing foreign fund outflows weighed on the domestic currency, said PTI.

The rupee opened marginally higher against the dollar on the interbank foreign exchange market, at 76.48, then gained further ground to trade at 76.35. During the session, it fluctuated between a high of 76.35 and a low of 76.51.

The rupee eventually settled at 76.51 against the dollar, a 1 paisa decrease.

According to PTI, the global oil benchmark, Brent crude futures, fell 2.61 percent to USD 104.34 a barrel.

The 30-share BSE Sensex closed 84.88 points or 0.15 percent lower at 56,975.99, while the broader NSE Nifty dropped 33.45 points or 0.20 percent to 17,069.10.

The dollar index, which measures the strength of the greenback against a basket of six currencies, increased 0.43 percent to 103.37, said PTI.

According to exchange data, foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 3,648.30 crore.