Forex Market: Indian rupee falls against US dollar in early trade

Mumbai: The Indian rupee depreciated against the US dollar in early trade on Thursday. A negative trend in domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed upon the Indian currency.

At the interbank foreign exchange, the Indian rupee opened at 83.34 against the dollar and touched an early low of 83.39 against the US dollar, registering a decline of 6 paise over its previous close. On Wednesday, the Indian rupee settled 2 paise lower at 83.33 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 105.78, lower 0.07 per cent. Foreign institutional investors (FIIs) were net sellers in the Indian capital markets on Wednesday as they offloaded shares worth Rs 2,511.74 crore.