Mumbai: The Indian rupee appreciated against the US dollar on Thursday. As per forex traders, the weakness of the American currency in the overseas market and a positive trend in domestic equities supported the Indian currency.
At the interbank foreign exchange market, the local currency opened at 83.92, then gained ground to touch 83.88, registering a rise of 9 paise from its previous close. On Wednesday, the Indian rupee depreciated 4 paise to close at 83.97 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, was down 0.16 per cent to 100.92 points. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Wednesday, as they offloaded shares worth Rs 1,347.53 crore.
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