Mumbai: The Indian rupee appreciated against the US dollar in early trade on Thursday. Positive trend in domestic equities supported the Indian currecny. Forex traders said the Indian rupee is trading in a narrow range as a strong American currency and elevated crude oil prices weighed on the local currency.
At the interbank foreign exchange, the domestic currency opened at 83.00, then touched 82.99 against the US dollar in initial deals, registering a rise of 3 paise from its previous close. On Wednesday, the Indian rupee appreciated 6 paise to close at 83.02 against the US dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.02 per cent lower at 104.69. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Wednesday as they sold shares worth Rs 3,929.60 crore.
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