The rupee gave up day’s gains to settle on a flat note at 74.75 against the US dollar on Thursday amid concerns over growing tensions between the US and China. At the interbank forex market, the domestic unit opened on a strong note at 74.65, but erased the gains to finally close at 74.75, unchanged from its previous closing.
During the session, the domestic unit witnessed an intra-day high of 74.52 and a low of 74.87 against the US dollar.
Forex traders said the uptick in the rupee during the day was supported by weak greenback, foreign fund inflows and positive domestic equities, but rising tensions between the US and China weighed on investor sentiment and restricted the gains.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.01 per cent to 94.99.