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Rupee trades flat against US dollar on Wednesday

13 Sep 2023 Evaluate
Indian rupee was trading flat against the US dollar on Wednesday as India’s retail inflation data and industrial production figures were better than market expectations. Data showed that the CPI inflation in August fell to 6.83% from 7.44% in July, while the Index of Industrial Production (IIP) rose by 5.7% in July. Meanwhile, firm American currency and a surge in crude oil prices dampened rupee sentiments. Foreign institutional investors were net sold Indian shares worth Rs 1,047.19 crore, while Domestic Institutional Investors were net bought shares to the tune of Rs 259.48 crore, exchange data showed. Investors are cautiously awaiting cues from the CPI data from the United States, that could influence the US Federal Reserve's interest rate decisions.

The partially convertible currency is currently trading flat at its previous close of 82.95 on Tuesday. The currency touched a high and low of 82.95 and 82.8950 respectively.

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