Mumbai: The Indian rupee depreciated against the US dollar in the forex market. The decision of US Federal Reserve to hike the interest rate has weighed upon the local currency.
At the interbank foreign exchange, the Indian rupee opened at 82.87 against the US dollar. During trading, it then lost to 82.88, registering a loss of 8 paise over its previous close. On Wednesday, the Indian rupee settled at 82.80 against the American currency.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.53% to 111.94.Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets as they purchased shares worth Rs 1,436.30 crore.
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