Mumbai: The Indian rupee edged lower against the US dollar in early trade on Tuesday. As per market experts, the higher demand for the American currency from importers weighed on the domestic currency.
At the Interbank foreign exchange, the Indian rupee opened at 83.38 a dollar. During trading it dropped 4 paise reach at 83.41 against the US currency. On Monday, the Indian rupee settled at 83.38 against the US dollar.
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The dollar index, which gauges the US currency’s strength against a basket of six currencies, was trading 0.09% lower at 103.62. Foreign institutional investors were net buyers in the Indian capital market on Monday as they purchased shares worth Rs 2,073.21 crore.
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