Mumbai: The Indian rupee recovered from its all-time low level and opened against the US dollar in morning trade on Tuesday. The positive trend in the domestic equity market supported the Indian currency. But, risk aversion in the global markets, escalation of geopolitical tensions in the Middle East and outflows by foreign investors further dented investor sentiments.
At the interbank foreign exchange market, the local currency opened at 83.92 and then touched an early high of 83.84, registering a 25 paise gain from its all-time closing low of 84.09 against the American currency. On Monday, the rupee slumped 37 paise to settle at an all-time low of 84.09 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, gained 0.16 per cent to 102.85 points. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Monday, as they offloaded shares worth Rs 10,073.75 crore.
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