Indian rupee flat at open as dollar climbs

·1-min read
A customer hands a 50-Indian rupee note to an attendant at a fuel station in Ahmedabad

(Reuters) - The Indian rupee was little changed on Wednesday after opening slightly higher versus the dollar as a strengthening greenback countered gains from portfolio inflows to local markets.

The currency was trading at 78.7125 by 0335 GMT, which was at the same level as its close on Tuesday. It did however pop to a 78.68 at the open.

Traders told Reuters rupee would sustain the current level on inflows but has little upside to make further gains as India's trade deficit widening to an all-time high in July would weigh on sentiment.

(Reporting by Anushka Trivedi And Nimesh Vora)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting