Rupee trading flat; awaits CAD numbers

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Rupee trading flat; awaits CAD numbers
The rupee was trading virtually flat at 54.34 against the dollar, awaiting current account deficit (CAD) numbers slated for later today.

The CAD if likely to be around the 6 per cent mark which is certainly an ugly number. The rupee has remained remarkably resilient over the last few months on the back of strong dollar flows from foreign funds.

However, foreign inflows into the Indian markets have been dwindling as political uncertainty in the country increases. Also, foreign fund flows have dried also on account of the deteriorating economic conditions.

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