Mumbai: The Indian rupee appreciated against the US dollar for second straight day. The weakening of the American currency, foreign fund inflow in the domestic equities, positive sentiment in the domestic equity markets and easing crude oil price supported the local currency.
At the interbank foreign exchange, the Indian rupee opened stronger at 83.30 against the dollar. During trading, it was at 83.28 against the US currency, up 6 paise over its previous close. It is trading at 22.69 against the UAE dirham. On Tuesday, the Indian rupee settled 6 paise higher at 83.34 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, was trading lower by 0.13% at 102.61. Foreign institutional investors were net buyers in the Indian capital market on Tuesday as they purchased shares worth Rs 783.82 crore.
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