Mumbai: The Indian rupee appreciated against the US dollar in early trade on Friday, July 5, 2024. The weakening of the American currency and sustained foreign fund inflows supported the Indian currency.
At the interbank foreign exchange market, the local currency opened at 83.48 and gained further to 83.45 against the US dollar, registering a rise of 5 paise from its previous close. On Thursday, the Indian rupee pared its initial losses and settled for the day on an almost flat note at 83.50 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, lower by 0.12 per cent. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Thursday, as they purchased shares worth Rs 2,575.85 crore.
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