Rupee shrugs off weak Asian cues, ends flat against dollar

The Indian rupee closed largely unchanged against the dollar amid weak regional cues as traders waited for clarity on US interest rates. Dilip Parmar, a research analyst at HDFC Securities, said the rupee had been dragged down against the dollar by foreign fund inflows, but that the pair has strong support between 81.90 to 81.60. Resistance is placed at 82.25, Parmar said. This week, traders are likely to monitor remarks from US Federal Reserve Chair Jerome Powell’s congressional testimony on Wednesday and Thursday focused on the outlook for interest rates.