Rupee ends flat on lack of fresh triggers

The Indian rupee ended flat at 79.84 against the US dollar on Tuesday, due to lack of fresh triggers.

“USDINR spot closed flat at 79.84 due to lack of fresh triggers. Corporate inflows and suspected intervention from the RBI kept USDINR capped but at the same time, weakness in Chinese currency did not allow rupee to appreciate. Over the near term, we expect a rangebound price action in USDINR,” said Anindya Banerjee, VP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities Ltd.

“Range could be 79.50 and 80.10 on spot,” Banerjee added.

Dollar index, which gauges the the strength of greenback against the basket of six major currencies, was at 109.797.

Brent crude oil prices were at $92.81 a barrel by the closing of Indian market hours.

Meanwhile, benchmark indices also ended flat on Tuesday, with Sensex ending at 59,196.99, which was 48.99 points, or 0.08 per cent, down from its previous close, and Nifty closing 10.20 points, or 0.06 per cent, down at 17,655.60.

About 1,787 shares advanced, 1,660 shares declined and 141 shares remained unchanged.

BSE LargeCap ended 0.08 per cent up, and BSE SmallCap and MidCap closed 0.10 per cent and 0.47 per cent up, respectively.

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