Mumbai: The Indian rupee appreciated against the US dollar in the forex market. The firm trend in domestic equities and the weakening of the American currency 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 81.29 against the US dollar, registering a rise of 9 paise over its previous close. On Friday, Indian rupee depreciated by 8 paise to close at 81.38 against the US dollar.
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Meanwhile, the dollar index which measures the US dollar’s strength against a basket of 6 currencies fell 0.32% to 101.87. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital market as they offloaded shares worth Rs 2,422.39 crore.
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