Foreign exchange: Rupee ends flat at 71.14 versus US greenback

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The rupee closed virtually flat at 71.14 per US greenback on Friday amid hardening crude oil costs and lacklustre world cues. Persistent overseas fund inflows propped up the native unit although the features had been capped by crude oil hitting the $60 per barrel mark, foreign exchange brokers mentioned.

World shares wobbled after China posted its weakest GDP development price in three a long time whereas the buck was below stress from a strengthening pound and euro.

On the interbank overseas alternate market, the rupee opened on a cautious notice at 71.20 versus the US greenback. It traded in vary of 71.31 and 71.05 throughout the day, earlier than lastly ending at 71.14, up simply 2 paise from its earlier shut.

World benchmark Brent crude oil futures rose 0.35 per cent to $60.12 per barrel.

The greenback index, which gauges the buck’s power in opposition to a basket of six currencies, slipped 0.15 per cent to 97.45.

International traders purchased equities price Rs 36 crore on Friday, alternate information confirmed.

In the meantime, Indian equities rose for the sixth straight session on Friday, the longest gaining streak since mid-March, boosted by overseas fund inflows and optimistic Brexit developments.

The BSE benchmark Sensex closed 246.32 factors or 0.63 per cent increased at 39,298.38. It hit an intra-day excessive of 39,361.06 and a low of 38,963.60.

The NSE gauge Nifty too rose 75.50 factors or 0.65 per cent to settle at 11,661.85.

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