Mumbai: The Indian rupee weakened against the US dollar on Tuesday. As per market experts, the fall in its Asian currencies, strengthening of the American currency in the overseas markets and elevated crude oil prices weighed upon the Indian currency.
At the interbank foreign exchange market, the rupee opened at 83.51 and lost further ground to trade at 83.56 against the US dollar in initial deals, registering a fall of 12 paise from its previous closing level. On Monday, the rupee depreciated 10 paise to settle at 83.44 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 at 105.91, higher by 0.02 per cent. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Monday, as they offloaded shares worth Rs 426.03 crore.
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