<p>Mumbai: The rupee settled on a flat note, higher by 2 paise at 95.68 (provisional) against the US dollar on Wednesday, as renewed tensions between the US and Iran and delays in negotiations kept investors cautious.</p><p>Forex traders said a strong American currency and weak domestic markets also pressured the rupee. Attention has shifted toward the upcoming RBI Monetary Policy Committee meeting scheduled between June 3 and 5, they said.</p><p>At the interbank foreign exchange market, the rupee opened at 95.60 against the US dollar, and touched an intra-day low of 95.79 against the American currency.</p>.Rupee falls 8 paise to 95.78 against US dollar in early trade.<p>At the end of Wednesday's close, the rupee was quoted at 95.68 (provisional), down 2 paise from its previous closing.</p><p>On Tuesday, the rupee depreciated 44 paise to close at 95.70 against the US dollar.</p><p>"We expect the rupee to trade with a negative bias on renewed tensions between the US and Iran and concerns over military action in the Middle East.</p><p>"However, softening of crude oil prices may support the rupee at lower levels. USDINR spot price is expected to trade in a range of 95.50 to 96.10," said Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan.</p><p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.07, down 0.10 per cent.</p><p>"Uncertainty around the Strait of Hormuz is keeping DXY well supported via safe haven demand," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Brent crude, the global oil benchmark, was trading down 3.02 per cent at USD 96.57 per barrel in futures trade.</p><p>On the domestic equity market front, Sensex declined 141.90 points to settle at 75,867.80, while the Nifty dipped 6.55 points to 23,907.15.</p><p>Foreign institutional investors offloaded equities worth Rs 2,407.87 crore on Tuesday, according to exchange data.</p>
<p>Mumbai: The rupee settled on a flat note, higher by 2 paise at 95.68 (provisional) against the US dollar on Wednesday, as renewed tensions between the US and Iran and delays in negotiations kept investors cautious.</p><p>Forex traders said a strong American currency and weak domestic markets also pressured the rupee. Attention has shifted toward the upcoming RBI Monetary Policy Committee meeting scheduled between June 3 and 5, they said.</p><p>At the interbank foreign exchange market, the rupee opened at 95.60 against the US dollar, and touched an intra-day low of 95.79 against the American currency.</p>.Rupee falls 8 paise to 95.78 against US dollar in early trade.<p>At the end of Wednesday's close, the rupee was quoted at 95.68 (provisional), down 2 paise from its previous closing.</p><p>On Tuesday, the rupee depreciated 44 paise to close at 95.70 against the US dollar.</p><p>"We expect the rupee to trade with a negative bias on renewed tensions between the US and Iran and concerns over military action in the Middle East.</p><p>"However, softening of crude oil prices may support the rupee at lower levels. USDINR spot price is expected to trade in a range of 95.50 to 96.10," said Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan.</p><p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.07, down 0.10 per cent.</p><p>"Uncertainty around the Strait of Hormuz is keeping DXY well supported via safe haven demand," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Brent crude, the global oil benchmark, was trading down 3.02 per cent at USD 96.57 per barrel in futures trade.</p><p>On the domestic equity market front, Sensex declined 141.90 points to settle at 75,867.80, while the Nifty dipped 6.55 points to 23,907.15.</p><p>Foreign institutional investors offloaded equities worth Rs 2,407.87 crore on Tuesday, according to exchange data.</p>