Mumbai: The Indian rupee appreciated against the US dollar in the forex market. The positive trend in the Indian equity market and weakening of the US dollar has supported the local currency. But, the sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias.
At the interbank foreign exchange, the domestic currency opened at 82.30 against the US dollar. During trading, it then gained further ground to reach at 82.19, registering a rise of 19 paise over its previous close. On Thursday, the Indian rupee settled 9 paise higher at 82.38 against the US dollar.
Also Read: Foreign investors infuse Rs 14,205 crore in financial service sector in November
The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.23% to 104.53. Foreign institutional investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 1,131.67 crore.
Post Your Comments