Mumbai: The Indian rupee depreciated against the US dollar in the morning session. Rising crude oil prices, foreign fund outflows and dollar demand from importers weighed upon the local currency.
At the interbank foreign exchange, the Indian rupee opened at 83.11 against the dollar, then fell to 83.13, registering a fall of 6 paise from its previous close. On Friday, the rupee settled at 83.07 against the US dollar.
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The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.10 per cent lower at 103.22. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Saturday as they offloaded shares worth Rs 545.58 crore.
Meanwhile, India’s forex reserves jumped USD 1.634 billion to USD 618.937 billion for the week ended January 12, the Reserve Bank of India (RBI) said on Friday.
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