Mumbai: The Indian rupee depreciated against the US dollar in morning trade on Tuesday. As per traders , the Indian currency was weighed down by elevated crude oil prices and a muted trend in domestic equities.
At the interbank foreign exchange market, the local currency opened at 83.91, then lost further ground and touched 83.95, registering a loss of 8 paise from its previous close. On Monday, the Indian rupee settled for the day 3 paise higher at 83.87 against the American currency.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, gained 0.04 per cent to 100.89 points. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Monday, as they purchased shares worth Rs 483.36 crore.
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