Mumbai: The Indian rupee depreciated against the US dollar in the morning session on Thursday. The strength of the American currency in the overseas market and muted trend in domestic equities weighed upon the Indian currency. But, the easing crude oil prices supported the Indian rupee.
At the interbank foreign exchange, the Indian rupee opened at 83.36 against the US dollar, registering a fall of 4 paise over its previous close. On Wednesday, the Indian rupee appreciated by 5 paise and settled at 83.32 against the US dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.03% higher at 104.17. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Wednesday as they offloaded shares worth Rs 79.88 crore.
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