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The rupee failed to hold onto its initial gains and ended flat at 64.43 against the US currency in a fairly range—bound trade even as impending Brexit talks took centre-stage globally.
Despite a better start, the home currency succumbed to fag-end dollar pressure and eventually reversed its direction.
Though, a smart rebound in local equities and smooth supply of dollars into equities and debts predominantly weighed on trading sentiments, supporting the rupee from any major deviation.
With the US Federal Reserve’s June interest rate decision out of the way, global unwinding of dollar longs also weighed
The rupee opened a tad higher at 64.42 a dollar from weekend’s closing level of 64.43 at the Interbank Foreign Exchange (Forex) market.
It gained further ground to hit an intra-day high of 64.31 in mid-morning deals, but later succumbed to fresh dollar pressure and relinquished all initial gains to end unchanged at 64.43.
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