Mumbai: The Indian currency depreciated against the US dollar in the forex market. The strengthening of the US currency in the overseas market and sustained foreign fund outflows weighed upon the local currency.
At the interbank foreign exchange, the domestic currency opened weak at 82.57 against the US dollar. During trading, it then fell to 82.60, registering a decline of 11 paise over its last close. On Wednesday, the rupee settled at 82.49 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 1.1% to 104.59. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 424.88 crore.
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