Mumbai: The Indian rupee depreciated against the US dollar in early trade on Friday. The strengthening of the US dollar in the overseas market, negative trend in domestic equities and elevated crude oil prices weighed upon the Indian currency.
At the interbank foreign exchange, the Indian rupee opened at 83.36 against the US dollar and touched a low of 83.38 in the initial trade, registering a fall of 7 paise over its previous close. On Wednesday, the Indian rupee closed flat at 83.31 against the US dollar. Stock, money, commodity, and derivative markets were closed on Thursday on account of Eid-Ul-Fitr.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was at 105.35, higher by 0.07 per cent. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Wednesday as they purchased shares worth Rs 2,778.17 crore.
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