Mumbai: The Indian rupee opened flat against the US dollar on Wednesday. S per market experts, the surging US Treasury yields and rising crude oil prices weighed upon the local currency.
At the interbank foreign exchange, the Indian local currency opened at 83.23 a dollar. On Tuesday, the Indian rupee ended 8 paise lower at 83.23 a dollar. The rupee hit its record level of 83.29 in October 2022.
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The dollar index, which gauges US currency’s strength against six other currencies is at 106.24, hovering close to its highest level since November 2022. The 10-year US Treasury yield was lower in Asia at 4.51% but remained close to its highest level since October 2007.
On Tuesday, the Foreign institutional investors (FIIs) sold Indian shares worth Rs 693.47 crore, while Domestic Institutional Investors (DIIs) purchased Indian shares worth Rs 714.75 crore.
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