Rupee Closes Flat Ahead Of MSCI Rejig-Related Inflows, GDP Data

The Indian rupee closed flat after strengthening for the second consecutive day against the US dollar on Friday, ahead of expected foreign inflows aided by the August MSCI rejig.

The rupee closed flat at Rs 83.87 after opening strong at Rs 83.84 against the US dollar, according to Bloomberg data. The currency closed at Rs 83.87 on Thursday.

The MSCI August rejig will come into effect as of Friday's market close, and a net passive FII inflow is expected to be upwards of $4-4.5 billion, according to Nuvama Research.

Crude oil prices steadied after rising on Thursday due to positive US economic data and worsening supply disruptions in Libya.

International benchmark Brent crude oil was down 0.08% at $78.75 per barrel at 3:35 p.m. IST.

The US Dollar Index was up 0.02% at 101.36 at 3:37 p.m. IST.

Brent crude oil was 0.23% up at $80.12 at 9:14 a.m. IST.