Mumbai: The Indian rupee appreciated against the US dollar in early trade on Friday . Positive sentiment in domestic equity markets and a downward trend in the crude oil prices overseas supported the domestic currency. However, strong American currency and sustained outflow of foreign capital weighed on the local currency.
At the interbank foreign exchange, the local currency opened at 83.25 and gained further to trade at 83.24 against the US dollar in initial deals, registering an increase of 5 paise from its previous closing level. On Thursday, the rupee gained 11 paise to close at 83.29 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 trading 0.13 per cent higher at 104.79. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Thursday, selling shares worth Rs 3,050.15 crore.
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