Mumbai: The Indian rupee opened on a flat note against the US dollar in early trade on Tuesday. The strength of the American currency in the overseas market, foreign fund outflows and elevated crude oil prices weighed upon the Indian currency.
At the interbank foreign exchange market, the local currency moved in a narrow range. It opened at 83.51 against the American currency, unchanged from its previous close. On Monday, the rupee settled flat at 83.51 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 105.26, higher by 0.04 per cent.
India’s retail inflation eased to an 11-month low of 4.83 per cent in April.Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Monday, as they offloaded shares worth Rs 4,498.92 crore.
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