Indian rupee was trading almost flat against the US dollar on Tuesday, tracking volatility in domestic equity market and foreign fund outflows. Foreign Institutional Investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,088.32 crore, while net purchases by domestic institutional investors stood at Rs 506.21 crore, exchange data showed. Moreover, firm American currency against many other rivals overseas coupled with lingering concerns over the spread of the Delta Covid variant too weighed on rupee sentiments. Meanwhile, the forex market was closed on Monday on account of ‘Parsi New Year'. On the global front, yen held firm globally against riskier currencies as China’s disappointing data, fears about the spread of the delta variant of corona virus cases, and Afghanistan’s geo-political tensions weighed on risk appetite.
The partially convertible currency is currently trading at 74.25, weaker by 1 paise from its previous close of 74.24 on Monday. The currency touched a high and low of 74.2700 and 74.2150 respectively.
