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Rupee trades flat against US dollar on Friday
Dec-06-2019

Indian rupee was trading flat against the US dollar on Friday after the Reserve Bank of India kept its key interest rates unchanged and promised to continue with its accommodative stance to support the economy. Easing crude oil prices and fresh foreign fund inflows supported the domestic currency. Foreign institutional investors (FIIs) purchased shares worth Rs 653.36 crore on Thursday, exchange data showed. Meanwhile, investors are awaiting fresh cues on the US-China trade front. On the global front, the US dollar weakened against its major crosses, hit by nervousness on trade and mixed signals about the US economy, while the safe havens of the Japanese yen and Swiss franc were in demand as a hedge against Sino-US trade talks collapsing, and as investors fretted that US jobs figures due later in the day may fail to deliver an expected rebound.

The partially convertible currency is currently trading flat at its previous close of 71.29 on Thursday. The currency touched a high and low of 71.36 and 71.2625 respectively. The reference rate for the dollar stood at 71.78 and for Euro stood at 79.50 on December 04, 2019. While the reference rate for the Yen stood at 66.11, the reference rate for the Great Britain Pound (GBP) stood at 93.27.

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