Rupee opens on a flat note at 71.06 against dollar amid volatility in domestic equities, unabated foreign fund outflows

Mumbai: The Indian rupee on Friday opened on a flat note at 71.06 against the US dollar, tracking volatility in domestic equities and unabated foreign fund outflows.

#Rupee opens little changed Vs Thursday's close pic.twitter.com/bNHWBuSKJc

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At the interbank foreign exchange, the rupee opened at 71.06, showing a decline of 4 paise over its previous closing. The Indian rupee on Thursday closed at 71.02 against the US dollar. The domestic currency recovered some lost ground and was trading at 70.98 against the US dollar. [caption id=“attachment_5114261” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] Traders said rupee is trading in a narrow range as the market is awaiting fresh cues on the potential US-China trade deal. Meanwhile, Brent crude futures, the global oil benchmark, fell 0.58 percent to $61.31 per barrel. Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 72.87 crore on Thursday, as per provisional data. Domestic bourses opened on a cautious note on Friday with benchmark indices Sensex trading 28.16 points up at 39,048.55 and Nifty rising 9.20 points to 11,591.80. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.06 percent to 97.69. The 10-year government bond yield was at 6.50 percent in morning trade.