Currency Buzz: INR Ends On Flat Note

4 Jul 2022 , 05:16 PM

The Indian rupee paired its early losses and settled on a flat note at 78.94 (provisional) against the US dollar on Monday. At the interbank forex market, the local unit opened at 78.97 against the greenback and fell to an intra-day low of 79.06. It finally settled at 78.94, unchanged from its previous close. The dollar index, which measures the greenbacks strength against a basket of six currencies, was down 0.28 per cent at 104.62. Foreign institutional investors remained net sellers in the capital market on Friday as they offloaded shares worth Rs 2,324.74 crore, as per exchange data. Meanwhile, the countrys foreign exchange reserves increased by USD 2.734 billion to USD 593.323 billion for the week ended June 24 on the back of a surge in the core currency assets, the Reserve Bank of India (RBI) said on Friday. Powered by Commodity Insights