Mumbai: The Indian rupee rebounded from its all-time low levels and appreciated against the US dollar in early trade on Thursday. The firm trend in domestic equities, weakening of the US currency and gains in Asian currencies supported the local currency.
At the interbank foreign exchange, the local currency opened at 83.51 against the US dollar. During trading, it touched 83.49, registering a rise of 12 paise from its previous close. On Tuesday, the Indian rupee plunged 17 paise to hit its lowest level of 83.61 against the US dollar for the second time in four weeks. Forex and money markets were closed on Wednesday on account of ‘Ram Navami’.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading at 105.88, lower by 0.07 per cent. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Tuesday as they offloaded shares worth Rs 4,468.09 crore.
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