Mumbai: The Indian rupee recovered from its all-time low levels in early trade on Monday . The positive trend in the Indian equity markets supported the domestic currency.
At the interbank foreign exchange, the domestic currency opened at 83.10, then touched a high of 83.05 against the American currency, registering a rise of 5 paise over its last close. On Friday, the Indian rupee edged lower by 1 paisa to settle at an all-time low of 83.10 against the US dollar.
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The dollar index, which gauges the US currency’s strength against a basket of six currencies, rose 0.02% to 103.39. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 266.98 crore.
Meanwhile, India’s foreign exchange reserves jumped $708 million to $602.161 billion for the week ended August 11.
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