Mumbai: The Indian rupee stayed firm and rose against the US dollar in early trade on Thursday. Weakening of the currency overseas, positive trend in the Indian equity markets and sustained inflow of foreign funds supported the domestic currency.
At the interbank foreign exchange, the domestic currency opened at 82.82 and gained further to trade at 82.74 against the American currency, climbing 9 paise from its previous close. On Wednesday, the Indian rupee settled 7 paise higher at 82.83 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, declined by 0.07 per cent to 103.24. The low level of dollar index was attributed to the US payroll data released on Wednesday, which showed lower-than-expected job growth in February.
Foreign institutional investors (FIIs) were net buyers in the Indian capital markets on Wednesday as they bought shares worth Rs 2,766.75 crore.
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