Mumbai: The Indian rupee continued its upward rally for the second straight session. The positive trend in the Indian equity markets and weakening of the US dollar against its rivals in overseas market supported the local currency. However, firm crude oil prices hovering above $90 per barrel and outflow of foreign funds weighed on the Indian currency.
At the interbank foreign exchange, the domestic currency opened 9 paise higher at 82.93. On Friday, the Indian rupee closed at 83.02 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 0.35% to 104.72. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Friday as they offloaded shares worth Rs 224.22 crore.
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