Mumbai: The Indian rupee declined against the US dollar in early trade on Thursday. As per market experts, the strengthening of the US currency has weighed upon the Indian rupee. But, the sustained foreign fund inflows and easing crude oil prices helped the rupee restrict the fall.
At the interbank foreign exchange market, the Indian rupee opened lower at 83.18 against the US currency. It moved in a tight range in morning deals. The rupee appreciated 24 paise to close at 83.09 against the US dollar on Wednesday.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading higher by 0.14% at 104.54.
Foreign institutional investors (FIIs) emerged as net buyers in the Indian capital market as they bought shares worth Rs 550.19 crore.
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