The Indian rupee opened on a flat note against the U.S. dollar on sustained demand for the greenback from importers and banks amid weak risk appetite.
At the interbank forex market, the domestic unit opened at 74.63 against the U.S. dollar, then gained ground and touched 74.57 against the American currency.
The rupee settled at 74.64 against the U.S. dollar.
On the economy front, the Union Finance Minister listed 12 new measures as a part of the stimulus package during the COVID-19 outbreak. The Centre announced another stimulus package worth Rs2.65 lakh crore, as a part of Atmanirbhar Bharat 3.0. This amount includes the Production Linked Incentive (PLI) scheme announced on November 11.
Sitharaman said the economy is seeing strong recovery, and COVID-19 active cases are declining. The Centre and Reserve Bank of India (RBI) have together provided total fiscal stimulus of Rs29.87 lakh crore since the COVID-19 pandemic began. This amount is 15% of Indias gross domestic product (GDP), Sitharaman said.
On the domestic equity market front, BSE Sensex is trading flat at 43,344.29 down 12.90 points or 0.03% in the afternoon trade. Nifty50 is trading at 12,684, down 6.80 points or 0.05%.
Besides, foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs1,514.12cr on a net basis on Thursday, according to exchange data.
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