Rupee Trades Flat Against Dollar Amid Strong Greenback, Easing Crude
The Indian rupee closed flat at 95.89 against the US dollar on Friday amid mixed global cues.
A strong US dollar, easing crude prices, and a Federal Reserve rate hike all contributed to the rupee's stagnation.
Despite positive domestic equity markets, the rupee pared initial gains due to the strong American currency. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, noted that traders may take cues from US industrial production data in the future.