Mumbai: The Indian rupee appreciated against the US dollar on Friday. The positive trend in the Indian equity market supported the domestic currency. But, the sustained foreign fund outflows weighed on investor sentiments and restricted the gains of the local currency.
At the interbank foreign exchange, the domestic currency opened at 82.77 against the US dollar. During trading, it then gained further to reach at 82.71, registering a rise of 16 paise over its previous close. On Thursday, the Indian rupee ended 7 paise lower at 82.87 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.13% to 103.97.Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 572.78 crore.
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