Indian rupee almost flat against UAE dirham in early trade

In the previous session, the rupee had settled at 77.55 against the American currency



by

A Staff Reporter

Published: Tue 24 May 2022, 9:58 AM

The Indian rupee started the session on a flat note against the US dollar on Tuesday morning amid a lacklustre trend in the Indian equity markets and persistent foreign capital outflows.

At the Indian interbank foreign exchange, the rupee opened weak at 77.56 against the American dollar, then turned volatile to trade in a tight range of 77.56 to 77.51. The rupee was trading at 77.56 against the greenback (21.13 versus the UAE dirham), registering a fall of just 1 paisa over the last close.

In the previous session, the rupee had settled at 77.55 against the American currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent higher at 102.27.

On the Indian equity market front, the 30-share Sensex was trading 59.07 points or 0.11 per cent lower at 54,229.54 points while the broader NSE Nifty slipped 28.15 points or 0.17 per cent to 16,186.55 points. Global oil benchmark Brent crude futures slipped 0.61 per cent to $112.73 per barrel.

Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs1,951.17 crore, as per stock exchange data.

(With inputs from PTI)

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