Mumbai: The Indian rupee opened on a flat note against the US dollar in early trade on Friday. The Indian currency was weighed down by a negative trend in domestic equities and the strength of the American currency in the overseas markets.
At the interbank foreign exchange market, the local currency moved in a narrow range. It opened at 83.54 against the American currency and touched 83.52 in the initial trade. On Thursday, the rupee settled for the day lower by 6 paise at 83.54 against the US dollar.
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was at 105.29, higher by 0.09 per cent.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 3,033.00 crore. Meanwhile, Moody’s Ratings on Thursday said India will remain the Asia-Pacific region’s fastest-growing economy in 2024, sustaining last year’s domestically-driven momentum.
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