Mumbai: The Indian rupee depreciated against the US dollar in the forex market. The strengthening of the American currency in the overseas market weighed upon the Indian currency. Meanwhile, sustained foreign fund inflows and positive trend in the Indian equity markets supported the local currency and restricted the downslide.
At the interbank foreign exchange, the domestic currency opened weak at 81.84 against the US dollar. During trading, it then fell to 81.92, registering a decline of 14 paise over its last close. On Monday, the rupee settled at 81.78 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 0.07% to 101.44. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets as they purchased shares worth Rs 2,123.76 crore.
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