Rupee surrenders gains to end flat as rising crude prices weigh
The rupee erased all its intra-session gains to end on a flat note at 75.44 against the US dollar on Tuesday as investors took note of rising crude oil prices and sustained foreign capital outflows.
However, a sharp rebound in domestic equities improved investor sentiment, helping in restricting rupee slide.
At the interbank forex market, the local unit opened strong at 75.31 against the greenback and witnessed an intra-day high of 75.26 and a low of 75.49 during the day’s trade. It finally ended at 75.44 a dollar against the previous close of 75.45 – up 1 paisa against the greenback.
