Mumbai: The Indian rupee depreciated against the US dollar in early trade on Wednesday. As per market experts, sustained foreign fund outflows and a negative trend in domestic equities weighed upon the local currency.
At the interbank foreign exchange, the domestic currency opened weak at 82.00 against the US dollar. During trading, it then fell to 82.01, registering a decline of 6 paise over its last close. On Tuesday, the Indian rupee settled at 81.95 against the dollar.
Also Read: Stock Market: Equity indices open flat
Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.04% to 101.82. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 407.35 crore.
Post Your Comments