Mumbai: The Indian rupee declined against the US dollar in early trade on Tuesday. The muted trend in domestic equities, a stronger American currency and elevated crude oil prices weighed upon the Indian rupee.
At the interbank foreign exchange, the Indian rupee opened at 83.00 against the US dollar, and touched 83.01, down by 1 paise. On Monday, the rupee appreciated 7 paise to close at 83.00 against the US dollar.
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The dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.06 per cent higher at 104.23. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Monday as they purchased shares worth Rs 126.60 crore.
Meanwhile, India’s industrial production growth slowed to 3.8 per cent in December 2023. The retail inflation declined to a three-month low of 5.1 per cent in January.
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