Mumbai: The Indian rupee depreciated against the US dollar in early trade on Wednesday. Selling of Indian equities by foreign investors, negative trend in the Indian equity markets and an surge in crude oil prices weighed upon the Indian currency.
At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped to 83.17 against the US currency, down 4 paise from its previous close. The domestic currency settled 1 paisa higher at 83.13 on Tuesday.
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The dollar index, which gauges the American currency’s strength against a basket of six currencies, was trading 0.02% lower at 102.26. Foreign institutional investors (FIIs) sold Indian shares worth Rs 990.90 crore on Tuesday.
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