Rupee settles flat at 78.94 against US dollar

At the interbank forex market, the local unit opened at 78.97 against the greenback and fell to an intra-day low of 79.06

|Jul 04, 2022, 16:22:05 IST

Mumbai: The rupee paired its early losses and settled on a flat note at 78.94 (provisional) against the US dollar on Monday.

At the interbank forex market, the local unit opened at 78.97 against the greenback and fell to an intra-day low of 79.06. It finally settled at 78.94, unchanged from its previous close.

"Forex markets witnessed relatively less movement than usual as US markets remained closed on account of Independence Day. Nevertheless, the rupee outperformed regional currencies today after last week's worst performance on the back of capital outflows and worry over the twin deficit," said Dilip Parmar, Research Analyst, HDFC Securities.

On the domestic equity market front, the BSE Sensex ended 326.84 points or 0.62 per cent higher at 53,234.77, while the broader NSE Nifty advanced 83.30 points or 0.53 per cent to 15,835.35.

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