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Rupee trades flat against US dollar in early trade on Wednesday
Jul-24-2024
Indian rupee was trading flat against the US dollar in early trade on Wednesday, driven by weak domestic equities and dollar demand from importers. Yesterday, the rupee had declined after the government raised tax rates on capital gains and removed indexation benefit in the FY25 Budget. Foreign Institutional Investors were net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 2,975.31 crore, exchange data showed. Meanwhile, investors are cautiously awaiting US inflation data later in the week.

The partially convertible currency is currently trading flat at its previous close of 83.69 on Tuesday. The currency touched a high and low of 83.7125 and 83.6875 respectively.

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