Mumbai: The Indian currency depreciated against the US dollar in early trade on Wednesday. The strengthening of the American currency in the international market and elevated crude oil prices influenced investors’ sentiment.
At the interbank foreign exchange, the Indian rupee opened at 82.82 against the US dollar and touched 82.85, down by 5 paise against the US dollar. On Tuesday, the Indian rupee settled for the day 5 paise lower at 82.80 against the US dollar.
Also Read: Retail inflation in India touch 4-month low in February
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was at 102.88, lower 0.07 per cent. Foreign institutional investors (FIIs) were net buyers in the Indian capital markets on Tuesday as they bought shares worth Rs 73.12 crore. India’s industrial production growth slowed to 3.8 per cent in January, while the February retail inflation at 5.09 per cent remained within the Reserve Bank’s comfort zone for the sixth straight month.
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