Mumbai: The Indian rupee depreciated against the US dollar in early trade on Thursday. Indian rupee is weighed down by elevated crude oil prices. The positive trend in domestic equities and sustained foreign fund inflows supported the rupee and restricted the fall.
At the interbank foreign exchange market, the rupee opened at 83.52 and lost further ground to trade at 83.54 against the US dollar in initial deals, registering a fall of 5 paise from its previous closing level. On Wednesday, the rupee settled 1 paisa lower at 83.49 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 at 105.36. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Wednesday, as they purchased shares worth Rs 5,483.63 crore.
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