<p>Mumbai: The rupee opened on a flat note against the US dollar in early trade on Friday, weighed down by a negative trend in domestic equities and the strength of the American currency in the overseas markets.</p><p>Forex traders said The Indian rupee underperformed among the Asian currencies amid higher imported commodity prices and foreign fund outflows amid worries about election results.</p><p>At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.50 against the American currency and touched 83.49 in the initial trade.</p>.Markets decline in early trade weak global trends, unabated foreign fund outflows. <p>On Thursday, the rupee had settled at 83.50 against the US dollar.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.61, higher by 0.15 per cent.</p><p>Brent crude futures, the global oil benchmark, rose 0.26 per cent to USD 83.49 per barrel.</p><p>"Indian rupee was again sold off despite gains in other Asian currencies on Thursday and closed at RBI-controlled level of 83.50," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Bhansali further noted that the rupee is likely to trade in a narrow range of 83.45 to 83.55 during the day.</p><p>On the domestic equity market, the 30-share BSE Sensex was trading 196.15 points, or 0.27 per cent lower at 73,467.57 points. The broader NSE Nifty was down 44.00 points, or 0.2 per cent, to 22,359.85 points.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 776.49 crore, according to exchange data.</p>
<p>Mumbai: The rupee opened on a flat note against the US dollar in early trade on Friday, weighed down by a negative trend in domestic equities and the strength of the American currency in the overseas markets.</p><p>Forex traders said The Indian rupee underperformed among the Asian currencies amid higher imported commodity prices and foreign fund outflows amid worries about election results.</p><p>At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.50 against the American currency and touched 83.49 in the initial trade.</p>.Markets decline in early trade weak global trends, unabated foreign fund outflows. <p>On Thursday, the rupee had settled at 83.50 against the US dollar.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.61, higher by 0.15 per cent.</p><p>Brent crude futures, the global oil benchmark, rose 0.26 per cent to USD 83.49 per barrel.</p><p>"Indian rupee was again sold off despite gains in other Asian currencies on Thursday and closed at RBI-controlled level of 83.50," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Bhansali further noted that the rupee is likely to trade in a narrow range of 83.45 to 83.55 during the day.</p><p>On the domestic equity market, the 30-share BSE Sensex was trading 196.15 points, or 0.27 per cent lower at 73,467.57 points. The broader NSE Nifty was down 44.00 points, or 0.2 per cent, to 22,359.85 points.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 776.49 crore, according to exchange data.</p>