Mumbai: The Indian rupee appreciated against the US dollar in early trade on Friday. The Indian rupee recovered from its all-time low levels as the American currency retracted from its elevated levels. However, a muted trend in domestic equities, sustained foreign fund outflows and rising crude oil prices weighed on the domestic currency.
At the interbank foreign exchange, the domestic currency opened at 83.03, then touched a high of 83.02 against the American currency, registering a rise of 7 paise over its previous close. On Thursday, the Indian rupee settled lower by 1 paisa at a fresh all-time low of 83.09 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 0.26% to 103.30. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 1,510.86 crore.
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