Rupee Closes Flat As Dollar Index, Brent Crude Inch Higher

The rupee closed steady on Monday, tracking a rise in the dollar index and Brent crude oil prices. 

The Indian unit closed flat at Rs 83.98 against the dollar after opening at Rs 83.96. It had closed at Rs 83.97 on Friday.

Brent prices were up 1.93% at $79.56 per barrel after a stellar week, sparked by tensions in the Middle East. The dollar index was up 0.07% at 102.5900.  

According to Informist Media, dealers indicated that the Reserve Bank of India has asked some public sector and private banks to avoid taking large positions against the spot rupee. The RBI is also said to be deploying verbal intervention to support the rupee at the 84 per dollar level.