Indian rupee was trading flat against the US dollar on Wednesday tracking volatility in domestic equities after a strong start. While, US Federal Reserve Chair Jerome Powell's comments that the US central bank will not raise interest rates too quickly based only on the fear of coming inflation supported market sentiments. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 1,027.94 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 302.45 crore in the Indian equity market on Tuesday, exchange data showed.
The partially convertible currency is currently trading flat to its previous close of 74.37 on Tuesday. The currency touched a high and low of 74.39 and 74.24 respectively. The reference rate for the dollar stood at 73.27, and for Euro stood 88.92 on June 15, 2021. While the reference rate for the 100 Yen stood at 66.58, the reference rate for the Great Britain Pound (GBP) stood at 103.42.
