Mumbai: The Indian rupee witnessed range-bound trading against the US dollar in early trade on Wednesday. The Indian currency fell 3 against the American currency due to a negative trend in domestic equities, strengthening of the American currency in the overseas market and elevated crude oil prices.
At the interbank foreign exchange market, the local currency opened at 83.45 and lost further ground to trade at 83.46 against the US dollar in initial deals, registering a decrease of 3 paise from its previous closing level. On Tuesday, the rupee appreciated 4 paise and settled at 83.46 against the greenback.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading marginally higher by 0.05 per cent at 105.66. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Tuesday, as they purchased shares worth Rs 1,175.91 crore.
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