Mumbai: The Indian rupee depreciated against the US dollar in morning trade on Wednesday. As per forex traders, muted trend in domestic equities weighed upon the Indian currency.
At the interbank foreign exchange market, the local currency opened at 83.94. During trading, it then lost further ground and touched 83.95, registering a loss of 2 paise from its previous close. On Tuesday, the Indian rupee depreciated by 6 paise to close at 83.93 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 0.17 per cent to 100.72 points. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Tuesday, as they purchased shares worth Rs 1,503.76 crore.
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