The rupee recovered from day’s low levels to close flat at 70.94 against the US dollar on Monday helped by foreign fund inflows into equities and lower global crude oil prices.
The domestic currency opened lower and fell to a low of 71.03 later on geopolitical concerns in West Asia and gains in the US currency against major global rivals.
A strong rally in equities amid heavy buying by foreign investors helped the rupee pare losses and touch a day’s high of 70.87.
At the interbank foreign exchange, the domestic unit opened weak and shuttled between a high of 70.87 and a low of 71.03 during the day.
The rupee finally closed flat at 70.94 against the US dollar despite a stellar closing in equity markets.
According to provisional data, foreign investors pumped in Rs 2,684 crore on a net basis in capital markets on Monday