The Indian rupee pared initial gains and settled on a flat note, higher by just 3 paise at 95.71 (provisional) against the US dollar on Friday, as the support from a weak dollar was negated by continued geopolitical tensions. Rupee traded flat to positive on a weak dollar and a positive tone in the domestic markets. Indian shares fluctuated before ending little changed on Friday as investors saw the U.S. Treasury’s bond buyback move as a temporary fix rather than a structural solution to rising yields. The Nifty 50 ended marginally higher by 20.15 points (0.08%) at 24,252.00, while the BSE Sensex ticked up just 3.11 points (0.00%) to close at 77,540.83. At the interbank foreign exchange, the rupee opened at 95.69, then touched an intraday high of 95.65 and a low of 95.75 and finally settled for the day at 95.71 (provisional) against the greenback, higher by 3 paise from its previous close.
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