Rupee settles flat at 72.55 against US dollar

The rupee closed flat 72.55 (provisional) against the US dollar on Wednesday as selling pressure in domestic equity markets weighed on investor sentiment.

Losses in the equity markets and a strengthening dollar against major currencies overseas kept the pressure on the rupee, forex traders said.

At the interbank forex market, the local unit opened almost flat at 72.56 against the greenback and witnessed an intra-day high of 72.51 and a low of 72.62.

It finally ended unchanged at 72.55 against the American currency, compared to its previous close.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.03 % to 91.91.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.82 % to USD 67.83 per barrel.

On the domestic equity market front, the BSE Sensex ended 562.34 points or 1.12 % lower at 49,801.62, while the broader NSE Nifty fell 189.15 points or 1.27 % to 14,721.30.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹ 1,692.31 crore on Tuesday, according to exchange data.