Rupee trades flat against US dollar in early trade on Thursday
The Indian rupee traded flat against US dollar in early trade on Thursday amid a spike in Brent crude prices above $102 per barrel, persistent outflows of foreign funds from domestic equities and fall in foreign exchange reserves. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,121.37 crore on a net basis on Wednesday, exchange data showed. RBI data showed that foreign exchange reserves fell by roughly $50 billion from their record peak of $785.71 billion touched on September 4, 2026. Investors remained cautious after the minutes of the US Federal Reserve's latest monetary policy meeting confirmed that most officials expect to hike interest rates once again before the end of the year.
The partially convertible currency is currently trading flat at its previous close of 96.75 on Wednesday. The currency touched a high and low of 96.77 and 96.65 respectively.
