Mumbai: The Indian rupee fell against the US dollar in early trade on Thursday. The strengthening of the American currency, rising crude oil prices, massive selling of Indian equities by foreign investors in the past few sessions and subdued market sentiment all put pressure on the Indian currency.
At the interbank foreign exchange, the domestic currency opened at 83.15 against the US dollar, 2 paise lower from its previous close. On Wednesday, the Indian rupee declined by 9 paise to close at 83.13 against the dollar.
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Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, fell marginally by 0.01% to 104.85. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Wednesday as they offloaded shares worth Rs 3,245.86 crore.
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