Mumbai: The Indian rupee appreciated against the US dollar in early trade on Tuesday. As per market experts, the positive trend in domestic equities supported the domestic currency. But, the Indian currency is trading in a narrow range as sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments.
At the interbank foreign exchange, the domestic currency opened at 83.24 against the US dollar and then touched an early high of 83.22, registering a gain of 5 paise over its previous close. On Monday, the Indian rupee settled at 83.27 against the US dollar.
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Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Monday as they sold shares worth Rs 593.66 crore.
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