Rupee ends flat at 71.14 versus US dollar

MUMBAI: The rupee closed almost flat at 71.14 per US dollar on Friday amid hardening crude oil prices and lacklustre global cues.

Rupee ends flat at 71.14 versus US dollar

After opening on a flat note, the rupee lost some ground as the morning trade progressed.

Mumbai, October 18

The rupee closed almost flat at 71.14 per US dollar on Friday amid hardening crude oil prices and lacklustre global cues.

Persistent foreign fund inflows propped up the local unit though the gains were capped by crude oil hitting the USD 60 per barrel mark, forex brokers said.

Global shares wobbled after China posted its weakest GDP growth rate in three decades while the greenback was under pressure from a strengthening pound and euro.

At the interbank foreign exchange market, the rupee opened on a cautious note at 71.20 versus the US dollar. It traded in range of 71.31 and 71.05 during the day, before finally finishing at 71.14, up just 2 paise from its previous close.

Global benchmark Brent crude oil futures rose 0.35 per cent to USD 60.12 per barrel.                      

The dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.15 per cent to 97.45.

Foreign investors bought equities worth Rs 36 crore on Friday, exchange data showed.

Meanwhile, Indian equities rose for the sixth straight session on Friday, the longest gaining streak since mid-March, boosted by foreign fund inflows and positive Brexit developments.

The BSE benchmark Sensex closed 246.32 points or 0.63 per cent higher at 39,298.38. It hit an intra-day high of 39,361.06 and a low of 38,963.60.

The NSE gauge Nifty too rose 75.50 points or 0.65 per cent to settle at 11,661.85. — PTI

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