Mumbai: The Indian rupee appreciated against the US dollar in the opening trade. As per market experts, the positive cues from the equity market ahead of the RBI’s interest rate decision supported the upward rally of the Indian currency. But, selling pressure from foreign equity investors amid strengthening dollar capped the gains of the local currency.
At the interbank foreign exchange, the domestic currency opened at 83.21, up by 4 paise against the dollar. On Thursday, the Indian currency settled at 82.35 a dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.08% higher at 106.42. Foreign institutional investors remained net sellers in the Indian capital market on Thursday, offloading shares worth Rs 1,864.20 crore.
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