Mumbai: The rupee pared early losses to close almost flat at 82.61 against the US dollar on Friday as the greenback retreated from the day’s high after fresh data suggested the US labour market may be cooling off due to high interest rates.

Continued foreign fund inflows into equities also helped the rupee recover from early losses, analysts said.

The rupee opened lower at 82.68 and later fell further to a day’s low of 82.75 with deepening losses in equities led by profit-taking by domestic institutional investors. DIIs sold shares worth Rs 2,964.23 crore on a net basis on Friday after a record rally in benchmark indices.

Press Trust of India