Rupee flat at 84.43 against USD; low crude price negates dollar strength

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Rupee flat at 84.43 against USD; low crude price negates dollar strength - Business Standard

Quick Summary:

The rupee traded in an almost flat note and settled 1 paisa lower at 84.43 (provisional) against the US dollar on Tuesday, as support from positive domestic equity markets and lower crude oil prices was negated by strength of the American currency in the overseas market.

Safe haven assets like Gold, JPY and CHF and to some extent dollar were bought and rupee felt the heat and was sold at the closing hours.

Forex traders said the Ukraine-Russia war took a new turn with Russia updating its nuclear doctrine and Ukraine aimed American missiles at Russia.