Rupee settles on a flat note

Mumbai: The rupee settled on a flat note on Friday, higher by just 2 paise at 95.22 against the US dollar, on heightened risk aversion due to fragile negotiations between Iran and Oman over the Strait of Hormuz.

Forex traders said risk aversion in global markets due to uncertainty on the deal between Iran and Oman and an overnight jump in crude oil prices weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened at 95.27 against the greenback and traded in a range of 95.19-95.28 during the session. It eventually settled at 95.20 (provisional), higher by 2 paise from its previous close.

On Thursday, the rupee depreciated 14 paise to close at 95.22 against the US dollar.