Mumbai: The Indian rupee traded flat against the US currency in the opening session on Friday. As per market experts, a recovery in crude oil prices weighed on the Indian currency. But, the domestic currency was supported by sustained foreign fund inflows and weakening of the US dollar in the overseas markets.
At the interbank foreign exchange market, the Indian rupee opened flat at 83.30 against the US dollar. It moved in a tight range of 83.32 and 83.29 in morning deals.
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The US dollar index, which measures the US dollar’s strength against a basket of six currencies, eased by 0.02% to 101.94. Meanwhile, the 10-year US Treasury yields fell below the 4% level on Thursday following signals by the US Federal Reserve to cut rates next year. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market on Thursday as they bought shares worth Rs 3,570.07 crore.
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