Mumbai: The Indian rupee appreciated against the US dollar in early trade on Monday supported by weakening of the American currency in the overseas market and significant foreign fund inflows.
At the interbank foreign exchange market, the local currency opened at 83.89, then inched further to touch 83.87, registering a rise of 5 paise from its previous close.
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Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.26 per cent to 100.85 points.
India’s forex reserves jumped USD 5.248 billion to a new all-time high of USD 689.235 billion for the week ended September 6. The overall kitty had jumped by USD 2.299 billion to a record USD 683.987 billion for the previous reporting week. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Friday, as they purchased shares worth Rs 2,364.82 crore.
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