Market News
Rupee ends flat as importer dollar demand offsets early gains - REUTERS
MUMBAI, Aug 11 (Reuters) - The Indian rupee closed unchanged on Monday, as dollar demand from importers offset early gains driven by a softer greenback and recovery in the non-deliverable forward (NDF) market.
The rupee opened at 87.5050 but failed to extend gains, ending flat at 87.6600 against Friday's close of 87.6600.
Traders said private sector banks stepped in to buy dollars, largely on behalf of importer clients hedging positions amid heightened market volatility, after U.S. President Donald Trump's decision to impose 50% tariffs on Indian goods.
