Mumbai: The Indian rupee rose against the US dollar in early trade on Friday. As per forex traders, weakening of the US dollar against major currencies overseas supported the Indian currency. But, the upward movement in the international crude oil prices, negative domestic equity markets and outflow of foreign capital capped gains of the local currency.
At the interbank foreign exchange market, the Indian rupee opened 1 paisa higher at 83.96 against the US dollar. The domestic currency had settled 4 paise higher at 83.97 on Thursday. On Wednesday, the rupee had breached the crucial 84-mark for the second time within a month and settled 3 paise lower at 84.01 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 0.10 per cent to 100.97 points. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Thursday, as they offloaded shares worth Rs 688.69 crore.
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