Mumbai: The Indian rupee edged up on Tuesday against the US dollar. Sustained dollar inflows and softening crude oil prices in the overseas market supported the Indian currency. But, a strong American currency, withdrawal of foreign funds and subdued equity market sentiment kept the local currency under pressure.
At the Interbank foreign exchange, the Indian currency opened at at 83.02 and inched up to 82.99 against the American currency in initial deals, registering a gain of 2 paise from its previous close. On Friday, the Indian rupee settled 4 paise higher at 83.01 against the US dollar. The currency derivatives market was closed on Monday on account of Chatrapati Shivaji Maharaj Jayanti.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was 0.13 per cent higher at 104.28. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth Rs 754.59 crore.
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