Mumbai: The Indian rupee appreciated against the US dollar in early trade on Monday. The weakening of the US currency in the overseas markets and sustained foreign fund inflows boosted investor sentiment. However, a muted trend in the domestic equity markets restricted gain of the Indian currency.
At the interbank foreign exchange, the Indian rupee opened 6 paise higher at 82.97 against the dollar. In initial deals, the Indian rupee was trading at 82.96 against the US dollar, a gain of 7 paise over its previous close. On Friday, the Indian rupee settled at 83.03 against the dollar.
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The dollar index, which gauges the American currency’s strength against a basket of six currencies, was trading 0.08% lower at 102.10. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Friday as they purchased shares worth Rs 9,239.42 crore. Foreign investors have invested Rs 1.5 lakh crore in 2023 in Indian markets.
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