Mumbai: The Indian currency depreciated against the US dollar in early trade on Monday. As per market experts, the strengthening of the US currency, rising crude oil prices, negative trend in the Indian equity markets and outflow of foreign funds from domestic equity markets weighed upon the Indian rupee.
At the interbank foreign exchange, the domestic currency opened at 82.23, then touched a high of 82.21 against the American currency. It later traded at 82.25, registering a fall of 7 paise over its previous close. On Friday, the Indian rupee had settled at 82.18 against the dollar.
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The dollar index, which gauges the US currency’s strength against a basket of six currencies, rose by 0.14% to 101.77. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 1,023.91 crore.
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