Mumbai: The Indian currency depreciated against the US dollar in early trade on Friday. Sustained foreign fund outflow, rising crude oil prices, negative trend in the Indian equity market and a strong US dollar weighed on the Indian currency.
At the interbank foreign exchange, the domestic currency opened weak at 83.17 against the US dollar and reached at 83.18 against dollar, registering a loss of 5 paise over its previous close. On Thursday, the rupee settled 15 paise higher at 83.13 against the US dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, rose 0.03% to 106.28. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Thursday as they sold shares worth Rs 1,093.47 crore.
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