Mumbai: The Indian rupee gained against the American currency on Friday in early trade. Positive trend in the domestic equity market, weakness of the American currency in the overseas market and foreign fund inflows supported the Indian currency. But, rising crude oil prices weighed upon the local currency.
At the interbank foreign exchange, the domestic currency opened at 83.23 and touched 83.19 against the US in initial trade, registering a rise of 5 paise from its previous close. On Thursday, the domestic currency settled at 83.24 against the dollar.
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Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.07% higher at 102.49. Foreign institutional investors (FIIs) were net buyers in the Indian equity market on Thursday as they purchased shares worth Rs 1,513.41 crore.
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