Mumbai: The rupee traded on a flat note to settle just 1 paisa lower at 84.07 against the US dollar on Friday as lower crude oil prices and a weak greenback offset the impact of persistent foreign capital outflows.
A positive momentum in the domestic equity markets supported the local currency and restricted its fall, traders said.
At the interbank foreign exchange market, the local unit opened at 84.06 against the greenback and stayed almost flat during the entire session.
The unit finally settled at 84.07 against the dollar, registering a loss of 1 paisa from its previous close.
On Thursday, the rupee weakened by 4 paise to close at 84.06 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was down by 0.14 per cent to 103.50 points.
Brent crude, the international benchmark, dropped 0.16 per cent to $74.33 per barrel in futures trade.
Foreign institutional investors (FIIs) were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 7,421.40 crore, according to exchange data.