Rupee trades flat at 55.67

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Rupee trades flat at 55.67
The rupee was unchanged from Tuesday's closing levels, trading at 55.67 to the dollar.

Month end demand from crude oil importers has been exerting pressure on the currency for the last two days, however, that demand seems to have abated.

Indian crude demand has been robust and increasing on account of the increasing demand for diesel.

Analysts believe that the rupee will continue to remain under pressure, as crude prices have risen sharply over the last few weeks and Foreign fund flows has been stagnant.

The India crude basket has touched $113 per barrel, as against $107 per barrel for the fortnight from August 1-14.

Read more about: currency
Story first published: Wednesday, August 29, 2012, 11:44 [IST]
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