Mumbai: The Indian rupee depreciated against the US dollar in the forex market. The strengthening of the US dollar in the global markets weighed upon the domestic currency.
At the interbank foreign exchange, the Indian rupee opened at 79.84 against the American currency. During trading it then fell to 79.87, registering a decline of 4 paise over the last close. On Tuesday, the Indian rupee settled at 79.83, higher by 1 paisa against the dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.11% to 108.74. Foreign institutional investors turned net buyers in the Indian capital market as they purchased shares worth Rs 563.00 crore.
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