Indian rupee flat at open as dollar climbs

Indian rupee flat at open as dollar climbs

Summary : A customer hands a 50-Indian rupee note to an attendant at a fuel station in Ahmedabad, India, October 5, 2018. The Indian rupee was little changed on Wednesday after opening slightly higher versus the dollar as a strengthening greenback countered gains from portfolio inflows to local markets. The currency was trading at 78.7125 by 0335 GMT, which was at the same level as its close on Tuesday.

Traders told Reuters rupee would sustain the current level on inflows but has little upside to make further gains as India’s trade deficit widening to an all-time high in July would weigh on sentiment.

A customer hands a 50-Indian rupee note to an attendant at a fuel station in Ahmedabad, India, October 5, 2018. REUTERS/Amit DaveAug 3 (Reuters) – The Indian rupee was little changed on Wednesday after opening slightly higher versus the dollar as a strengthening greenback countered gains from portfolio inflows to local markets.The currency was trading at 78.7125 by 0335 GMT, which was at the same level as its close on Tuesday. It did however pop to a 78.68 at the open.Traders told Reuters rupee would sustain the current level on inflows but has little upside to make further gains as India’s trade deficit widening to an all-time high in July would weigh on sentiment.

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *