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Forex Market: Indian rupee gains marginally against US dollar

Mumbai: The Indian rupee witnessed range-bound trade in the morning session on Thursday. A positive trend in domestic equities and foreign fund inflows  supported the Indian ncurrency.

At the interbank foreign exchange market, the local currency moved in a narrow range. It opened at 83.97 against the American currency, registering a rise of 2 paise over its previous close. On Wednesday, the rupee settled 1 paisa lower at 83.99 against the American currency.

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The dollar index, which gauges the US dollar’s strength against a basket of six currencies, was up 0.07 per cent to 101.75 points. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Wednesday, as they purchased shares worth Rs 1,755.00 crore.

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