The rupee settled on a flat note, registering a rise of just 2 paise to 76.14 (provisional) against the U.S. dollar on Thursday, tracking weak U.S. dollar and gains in the domestic equity market.
Forex traders said rupee was trading in a narrow range as positive domestic equities and weak U.S. currency supported the local unit, while rising coronavirus cases, border tension with China and foreign fund outflows capped the gains.
The rupee opened at 76.17 against the U.S. dollar, and finally settled for the day at 76.14 against the U.S. dollar, up 2 paise over its previous close.
It had settled at 76.16 against the greenback on Wednesday.
During the four-hour trading session, the rupee saw an intra-day high of 76.08 and a low of 76.19 against the U.S. dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05% to 97.10.
The 30-share BSE benchmark Sensex was trading 550 points higher at 34,057.92 and broader NSE Nifty rose 167.85 points to 10,049.
Foreign institutional investors were net sellers in the capital market as they sold shares worth ₹486.62 crore on Wednesday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, rose 0.42 per cent to USD 40.88 per barrel.