Mumbai: The Indian rupee opened lower against the US dollar. As per market experts, the strengthening of the US dollar and spike in US treasury yields weighed upon the Indian currency.
At the interbank foreign exchange, the Indian rupee opened at 83.21 a dollar, 17 paise lower its as against previous close. On Friday, the Indian rupee ended 15 paise higher at 83.04 a dollar. Indian financial markets were closed on Monday for a public holiday.
Also Read: Commodity Market: Gold prices edge lower sharply for second day in a row
The dollar index, which measures the US currency’s strength against a basket of six currencies climbed to 107.13, its highest level since November 2022.
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