Mumbai: The Indian rupee opened almost unchanged against the US dollar on November 9. As per market experts, weakening of the US dollar, sustained debt market inflows, easing crude oil prices and SBI’s plan to raise a $1 billion have supported the Indian currency. But, muted trend in the Indian equity markets and sustained foreign fund inflows weighed on the investor sentiments.
At the Interbank foreign exchange, the Indian currency opened at 83.25 a US dollar, up by 5 paise against its previous closing. On Wednesday, the local currency settled at 83.28 a US dollar. Indian currency is trading at 22.68 against the UAE Dirham.
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The dollar index, which measures the US currency’s strength against major currencies, was trading at 105.523, down 0.06% from its previous close of 105.593. The 10-year U.S. yield dropped below 4.50%, reaching the lowest in more than a month and is now down more than 50 basis points from its recent high.
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