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Rupee trades flat at 71.65 per dollar

February 27
13:09 2020

The Indian rupee continued to trade flat at 71.65 per dollar, with selling seen in the domestic equity market on the fifth consecutive day.

It opened flat at 71.65 per dollar versus previous close 71.66.

The Indian rupee settled for the day higher by 20 paise at 71.66 against the US dollar on Wednesday in line with other Asian currencies, helped by lower crude oil prices.

The Sensex was down 348.91 points or 0.87% at 39540.05, and the Nifty was down 104.80 points or 0.90% at 11573.70.

The dollar held gains against the yen on Thursday as growing fears that a coronavirus outbreak is turning into a pandemic boosted demand for the safety of US Treasuries.

Oil prices fell for a fifth day to their lowest since January 2019 as a growing number of new coronavirus cases outside of China deepened fears that the global economy will slow and lower crude demand.

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