Mumbai: The Indian rupee depreciated against the US dollar in early trade on Friday. Investors were waiting the announcement of the Reserve Bank of India’s rate-setting panel’s decision. The Indian currency was also weighed down by a strong American currency, elevated crude oil prices, negative trend in the domestic equities and sustained foreign fund outflows.
In the interbank foreign exchange, the Indian rupee opened at 83.44 against the dollar and touched a low of 83.45 in the initial trade, registering a fall of 6 paise over its previous close. On Thursday, the Indian rupee recovered 14 paise to close at 83.39 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 at 104.33, higher by 0.20 per cent. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Thursday as they offloaded shares worth Rs 1,136.47 crore.
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