Mumbai: The Indian rupee rose against the US currency in early trade on Wednesday following a marginal dip in the dollar in overseas markets.
At the interbank currency exchange, the domestic currency opened at 83.72, 1 paisa higher than the previous day’s close. The domestic unit moved in the tight range of 83.70-83.72 in early trade.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, declined 0.19 per cent to 104.36. Foreign institutional investors were net sellers in the capital markets on Tuesday, offloaded shares worth Rs 5,598.64 crore. India’s forex reserves had jumped $ 4 billion to reach an all-time high of $ 670.857 billion for the week ended July 19. Foreign institutional investors (FIIs) were net buyers in the Indian capital markets on Friday as they purchased shares worth Rs 2,546.38 crore.
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