Mumbai: The Indian rupee appreciated against the US dollar in early trade on Wednesday. Robust buying in domestic equities and weakening of the US dollar against major currencies overseas boosted investor sentiment.
At the interbank foreign exchange, the Indian rupee opened at 83.17 and gained further to trade at 83.14 against the US dollar , registering a rise of 4 paise over its previous close. On Tuesday, the domestic currency settled at 83.18 against the US dollar.
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.02% higher at 101.81. Foreign institutional investors (FIIs) were net sellers in the Indian equity market on Tuesday as they offloaded shares worth Rs 601.52 crore.
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