Mumbai: The Indian rupee appreciated against the US dollar in the forex market. As per market experts, weakening of the US dollar, declining crude oil prices and inflow of foreign funds in the domestic equity market supported the upward rally of the Indian currency.
At the interbank foreign exchange, the domestic currency opened stronger at 82.38 against the US dollar. During trading, it then climbed to 82.32, registering a gain of 27 paise over its previous close. On Tuesday, the Indian rupee settled at 82.59 against the US dollar. The foreign exchange market was closed on Wednesday on account of Gudi Padwa.
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Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, was 0.23% lower at 102.11.Foreign Institutional Investors (FIIs) turned net buyers in the domestic capital market as they purchased shares worth Rs 61.72 crore.
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