Mumbai: The Indian rupee is trading in a narrow range against the US dollar in early trade on Friday. The support from positive domestic equities was negated by elevated crude oil prices, strengthening of the American currency in the overseas market and sustained foreign fund outflows.
At the interbank foreign exchange market, the local currency opened at 83.48. It touched 83.46 in the initial trade, registering a gain of 2 paise from its previous close .On Thursday, the Indian rupee closed at 83.48 against the American currency.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was at 105.30, higher by 0.07 per cent. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Thursday as they offloaded shares worth Rs 6,994.86 crore.
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