Mumbai: The Indian rupee depreciated against the US dollar in the forex market. The rising crude oil prices due to the ongoing Russia-Ukraine war, sustained foreign fund outflows and negative trend in the Indian share market weighed upon the local currency.
At the interbank foreign exchange, the Indian rupee opened at 76.06 against the US dollar. During trading it inched higher to 76.05, registering a decline of 11 paise from the last close. On Thursday, the Indian rupee had settled at 75.94 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.14% to 97.92. Foreign institutional investors remained net sellers in the Indian share market as they offloaded shares worth Rs 6,644.65 crore.
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