Mumbai: The Indian rupee appreciated against the US dollar in early trade on Monday. The weakness of the American currency in the overseas market supported the Indian currency.
At the interbank foreign exchange, the domestic currency opened at 83.01, then touched 82.99 against the US dollar in initial deals, registering a rise of 8 paise from its previous close. On Friday, the domestic currency settled at 83.07 against the dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.07 per cent lower at 104.03.
Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Friday as they bought shares worth Rs 141.95 crore. India’s forex reserves jumped by $5.736 billion to $622.469 billion for the week ended February 2. In the previous week, the overall reserves had increased by $591 million to $616.733 billion.
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