Mumbai: The Indian rupee edged lower against the US dollar in the forex market. The losses in domestic equities and risk aversion in global markets weighed upon the local currency. But, the weakening of the US dollar supported the domestic currency and restricted the decline.
At the interbank foreign exchange, the Indian rupee opened weak at 82.84 against the US dollar. During trading, it then gained some ground to reach at 82.80, registering a fall of 4 paise over its previous close. On Thursday, the Indian rupee settled 27 paise lower at 82.76 against the US dollar.
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The dollar index, which measures the US currency’s strength against a basket of six currencies, fell 0.28% to 104.27. Foreign Institutional Investors (FIIs) turned net sellers in the Indian capital markets as they offloaded shares worth Rs 710.74 crore.
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