Mumbai: The Indian rupee rose against the US dollar in early trade on Wednesday. The weakening of US dollar against major currencies overseas and a drop in crude oil prices supported the Indian currency. .
At the interbank foreign exchange market, the Indian rupee opened at 83.96, higher by 2 paise from its previous close. The Indian rupee had settled at 83.98 against the US dollar on Tuesday.
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The dollar index, which gauges the US dollar’s strength against a basket of six currencies, was down 0.14 per cent to 101.67. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Tuesday, as they purchased shares worth Rs 1,029.25 crore.
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