Mumbai: The Indian rupee opened higher for the third day in a row. easing crude oil prices and a weak American currency supported the upward rally of the Indian currency. But, the negative sentiments in the domestic equity markets and sustained foreign funds withdrawal capped a sharp gain in the Indian currency.
At the interbank foreign exchange, the Indian rupee opened 3 paise higher at 83.16 a dollar. It is trading at 83.14, higher by 5 paise against the US dollar. On Wednesday, the Indian rupee settled 6 paise higher at 83.19 against the US dollar.
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The dollar index, which gauges the US currency’s strength against a basket of six currencies, was trading 0.13% lower at 105.69., forex analysts said. Foreign Institutional Investors (FIIs) were sellers in the Indian capital market on Wednesday as they offloaded shares worth Rs 421.77 crore.