Mumbai: The Indian rupee edged higher against the US currency in the forex market. The easing crude oil prices, weakening of the US dollar and firm trend in the Indian equity markets supported the upward rally of the Indian 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 81.54 against the US dollar, registering a rise of 14 paise over its previous close. On Wednesday, the Indian rupee settled at 81.68 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of 6 currencies, fell 0.10% to 103.08. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital market as they offloaded shares worth Rs 3,208.15 crore.
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