Indian rupee was trading flat against the US dollar on Wednesday following heavy selling in domestic equities amid foreign fund outflows. Foreign institutional investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 178.51 crore, exchange data showed. Meanwhile, worries over spread of the delta variant of coronavirus and its impact on global economic recovery pressurizing rupee sentiments. On the global front, the US dollar was strengthening against its peers ahead of US inflation data that could pressure the Federal Reserve to wind back policy support.
The partially convertible currency is currently trading flat at its previous close of 74.43 on Tuesday. The currency touched a high and low of 74.4450 and 74.3700 respectively.
