Mumbai: The Indian rupee is trading in a narrow range against the US dollar in early trade on Monday. As per market experts, the negative trend in domestic equities, sustained foreign fund outflows and rising crude oil prices weighed on investor sentiments.
At the interbank foreign exchange, the domestic currency opened at 83.25 against the US dollar. It is trading at 23.12 against UAE dirham. On Friday, the Indian rupee settled at 83.26 against the US dollar.
Also Read: Commodity Market: Gold price remain firm for third day in a row
The dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.36% lower at 103.54.
Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Friday as they sold shares worth Rs 477.76 crore. Meanwhile, India’s forex reserves decreased by $462 million to $590.321 billion for the week ended November 10. In the previous week, the overall reserves had increased by $4.672 billion to $590.783 billion.
Post Your Comments