Mumbai: The Indian rupee is trading in a narrow range against the US dollar in early trade on Wednesday. The dollar demand from importers weighed upon the Indian currency.
At the interbank foreign exchange market, the local currency opened at 83.69, and touched an early low of 83.70, registering a fall of 1 paisa from its previous close. On Tuesday, the rupee declined 3 paise to 83.69 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 104.48, higher by 0.03 per cent. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Tuesday as they offloaded shares worth Rs 2,975.31 crore.
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