Mumbai: The Indian rupee gained against the US dollar in early trade on Monday. The weakness of the American currency in the overseas market, sustained foreign fund inflows and crude oil prices below USD 75 a barrel supported the local currency.
At the interbank foreign exchange, the domestic currency opened strong at 81.76 against the US dollar and then rose to 81.70, registering a rise of 8 paise over its previous close. On Thursday, the Indian rupee closed at 81.78 against the US currency. The forex market was shut on Friday on account of Buddha Purnima.
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Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.07% to 101.14. India’s foreign exchange reserves jumped $4.532 billion to $588.78 billion for the week ended April 28. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth Rs 777.68 crore.
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