Mumbai: The Indian rupee appreciated against the US dollar on Tuesday amid softening crude oil prices in the international market. But, the local currency faced some resistance due to subdued sentiment in the domestic equity market and a stronger American currency.
At the interbank foreign exchange market, the local currency opened strong at 83.32 and inched up to trade at 83.31 against the US dollar, registering a gain of 6 paise from its previous closing level. On Friday, the rupee had settled 13 paise higher at 83.37 against the US dollar. The forex markets were closed on Monday on account of general elections.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading at 104.57, higher by 0.11 per cent. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets during a special trading session on Saturday, as they offloaded shares worth Rs 92.95 crore.
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