Mumbai: The Indian rupee depreciated against the US dollar in early trade on Monday, As per market experts, the strengthening of the American currency in the overseas market weighed upon the Indian currency. But, the firm trend in the Indian equity market and falling crude oil prices supported the local currency.
At the interbank foreign exchange, the domestic currency opened weak at 82.22 against the US dollar, then fell to 82.24, registering a decline of 6 paise over its last close. On Friday, the Indian rupee settled at 82.18 against the US dollar.
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The dollar index, which gauges the US dollar’s strength against a basket of six currencies, fell 0.02% to 102.66.Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets as they purchased shares worth Rs 1,014.06 crore.
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