Mumbai: The Indian rupee fell against the US dollar and the UAE dirham in early trade on Friday. As per market experts, the heavy selling of equities by Foreign Institutional Investors (FIIs) weighed upon the local currency. But, the positive cues from domestic equity markets and lower level of dollar provided support to the Indian currency.
At the interbank foreign exchange, the Indian currency opened at 83.15, then slipped to 83.14 against the US dollar, down 1 paisa from its previous close. It is trading at 23.09 against the UAE dirham. On Thursday, the Indian rupee settled 1 paisa higher at 83.13 against the US dollar.
Also Read: Strong earthquake hits Tonga Islands
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.19 per cent lower at 103.12. FIIs were net sellers in the Indian equity market on Thursday, as they sold shares worth Rs 9,901.56 crore.
Post Your Comments