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Forex Market: Indian rupee rises against US dollar

Mumbai: The Indian rupee  appreciated against the US dollar in early trade on Wednesday. The bullish trend in domestic equities and sustained foreign fund inflows supported the upward rally of the Indian currency.

At the interbank foreign exchange, the Indian rupee opened 2 paise higher at 83.35 against the dollar.  On Tuesday, the Indian rupee settled at 83.37 against the dollar.

Also Read: Commodity Market: Gold prices edge lower for second day in a row 

Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.11% lower at 103.93. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Tuesday as they purchased shares worth Rs 5,223.51 crore.

 

 

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