Mumbai: The Indian currency witnessed range-bound trading in initial deals against the US dollar on Tuesday. As per market experts, positive domestic equities, foreign fund inflows and weakening of the American currency in the overseas market supported the upward rally of the Indian currency. But, the rising crude oil prices weighed on the local currency and capped its gains.
At the interbank foreign exchange, the Indian rupee opened at 82.74 against the US dollar , then touched 82.72, registering a rise of 3 paise over its previous closing price. On Monday, the Indian rupee declined by 8 paise to settle at 82.75 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 0.06 per cent lower at 104.80. Foreign institutional investors (FIIs) were net buyers in the Indian capital markets on Monday as they bought shares worth Rs 4,212.76 crore.
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