Mumbai: The Indian rupee recovered from its all-time low level and edged higher against the US dollar in early trade on Tuesday. At the interbank foreign exchange, the domestic currency opened at 83.33 and it touched 83.32 against the US dollar in initial deals, registering a gain of 29 paise from its previous close. On Friday, the Indian rupee depreciated 48 paise to settle at an all-time low of 83.61 against the American currency. Forex, equity markets were closed on Monday on account of Holi.
Meanwhile, the dollar index, which gauges the US currency’s strength against a basket of six currencies, fell by 0.01 per cent to 103.79. Foreign institutional investors (FIIs) were net sellers in the Indian capital markets on Friday as they offloaded shares worth Rs 3,309.76 crore.
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India’s forex reserves increased by $6.396 billion to $642.492 billion for the week ended March 15. In the previous reporting week, the overall reserves had risen by $10.47 billion to $ 636.095 billion.
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