Mumbai: The Indian rupee opened higher against the US dollar in early trade on Wednesday. Weakening of the US dollar and sustained inflow of foreign funds in the domestic equity markets supported the upward rally of the Indian currency. But, the rising crude oil prices and negative trend in equity markets, capped the rise in the domestic currency.
At the interbank foreign exchange, the domestic currency opened at 83.24 against the US dollar and then inched up to 83.23, registering a gain of 2 paise over its previous close. On Tuesday, the Indian rupee settled at 83.25 against the US dollar.
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Meanwhile, the dollar index, which gauges the US currency’s strength against a basket of six currencies, fell 0.07% to 106.18. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Tuesday as they purchased shares worth Rs 263.68 crore.
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