Mumbai: The Indian currency depreciated against the US dollar in early trade on Wednesday. The negative trend in domestic equities, strengthening of the American currency and elevated crude oil prices in the international market weighed upon the local currency.
At the interbank foreign exchange, the Indian rupee opened at 83.11 against the US dollar and touched 83.12, down 4 paise against the US dollar. On Tuesday, the Indian rupee depreciated 8 paise to close at 83.08 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 at 104.81, lower 0.14 per cent. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Tuesday as they purchased shares worth Rs 376.32 crore.
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