Forex Market: Indian rupee gains against US dollar

Mumbai: The Indian rupee appreciated against the US dollar in the forex market. The weakening of the US currency and firm trend in Indian capital markets supported the domestic 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 82.41 against the US dollar. During trading, it then gained ground to touch 82.33, registering a rise of 33 paise over its previous close. On Friday, the Indian rupee settled at 82.66 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 0.25% to 103.61.Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 2,902.46 crore.