Rupee trades flat against US dollar in early trade on Friday
The Indian rupee was trading flat against the US dollar in early trade on Friday due to weakening dollar and softening of US treasury yields followed disappointing earnings reports from major US technology companies - including Alphabet, Amazon and Intel, which fuelled concerns over the sustainability of massive AI expenditures. Meanwhile, geopolitical developments in West Asia and climbing crude oil prices continued to keep the rupee under pressure. Investors remained cautious ahead of US midterm elections and upcoming inflation and employment data, both of which will shape the Fed's December policy decisions. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 943.60 crore on a net basis on Thursday, exchange data showed.
The partially convertible currency is currently trading flat at its previous close of 95.2650 on Thursday. The currency touched a high and low of 95.2850 and 95.19 respectively.
