Mumbai: The Indian rupee appreciated against the US dollar in the forex market. The weakening of the US currency supported the local currency. But, the sustained foreign fund outflows and a muted trend in domestic equities weighed upon it and capped it’s gains.
At the interbank foreign exchange, the domestic currency opened at 81.72 against the US dollar. During trading, it then gained further and reached at 81.65, registering a rise of 14 paise over its previous close. On Monday, the Indian rupee depreciated by 5 paise to close at 81.79 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.24% to 107.57. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 1,593.83 crore.
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