Mumbai: The Indian rupee edged higher against the US dollar in the forex market. Forex traders said the rupee is trading in a narrow range as investors remain cautious ahead of the BRICS summit and US Federal Reserve Chair Jerome Powell’s speech at Jackson Hole Symposium this week.
At the interbank foreign exchange, the domestic currency opened at 83.02, then touched a high of 82.92 against the American currency ,registering a rise of 7 paise over its last close. On Tuesday, the Indian rupee had recovered from its all-time low levels and settled higher by 14 paise at 82.99 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 0.08 to 103.48.Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 495.17 crore.
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