Indian rupee little changed against the US dollar on Monday owing to positive domestic equities and foreign fund inflows in the market. Foreign Institutional Investors (FIIs) remained net buyers in the capital market as they purchased shares worth Rs 575.39 crore on Friday, exchange data showed. However, growing concerns over the Omicron variant of coronavirus and its impact on economic recovery as well as firm crude oil prices weighed on the domestic unit. Reserve Bank of India said on Friday that India's current account slipped into a deficit of $9.6 billion or 1.3% of GDP in the September quarter. Meanwhile, investors are awaiting releases of the minutes by the US Federal Reserve as well as employment data in the world’s largest economy.
The partially convertible currency is currently trading at 74.28, stronger by 1 paise from its previous close of 74.29 on Friday. The currency touched a high and low of 74.4700 and 74.2550 respectively.
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