Rupee settles flat at 83 against dollar

Mumbai: The rupee settled flat at 83 against the US dollar on Tuesday, as the support from a rally in domestic equities was negated by a strong greenback overseas and rising crude oil prices.

At the interbank foreign exchange, the rupee opened at 83 against the dollar, and touched an intraday high of 82.98 and a low of 83.02.

The rupee finally settled at 83.00, unchanged from its previous close.

On Monday, the rupee appreciated 7 paise to close at 83 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.05 per cent higher at 104.21, ahead of the US inflation report.

Brent crude futures, the global oil benchmark, rose 0.85 per cent to $82.70 per barrel.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth Rs 126.60 crore, according to exchange data.