Indian rupee was trading almost flat against the US dollar on Friday followed by foreign fund inflows into capital market. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Thursday as they purchased shares worth Rs 589.10 crore, exchange data showed. Positive trend in domestic equities, Chinese yuan recovery, and pullback in the US dollar index supported domestic currency. Meanwhile, increasing probability of another Federal Reserve interest rate hike in June, pressurizing rupee. Markets are awaiting more cues on progress towards raising the debt ceiling.
The partially convertible currency is currently trading almost flat at its previous close of 82.7250 on Thursday. The currency touched a high and low of 82.7350 and 82.67 respectively.
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