Rupee settles flat at 94.46 against U.S. dollar
In short
The Indian rupee closed flat at 94.46 against the U.S. dollar in the interbank forex market. It opened weak at 94.36 and fell to 94.57 during the day.
Forex traders said the rupee has shown signs of near-term stabilisation after a sharp recovery in earlier sessions.
What the reporting says
The Indian rupee settled flat at 94.46 against the U.S. dollar in the interbank foreign exchange market. It opened weak at 94.36 and slipped to an intraday low of 94.57 before ending unchanged from the previous close. Forex traders said the currency showed signs of near-term stabilisation after recovering sharply in earlier sessions.
Why it matters
The rupee settled unchanged at 94.46 per dollar after trading weaker earlier in the session, with an intraday low of 94.57. The move came in the interbank foreign exchange market. Forex traders said the currency was showing signs of near-term stabilisation after recovering sharply in previous sessions, pointing to a calmer short-term tone for the Indian currency.