Mumbai: The Indian rupee witnessed range-bound trade in the morning session on Tuesday. As per forex traders, a muted trend in domestic equities and rising crude oil prices weighed upon the Indian currency.
At the interbank foreign exchange market, the local currency moved in a narrow range. It opened at 83.54 against the American currency, then fell to 83.57, registering a fall of 3 paise over its previous close. On Monday, the Indian rupee ended lower by 2 paise at 83.54 against the US 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 100.92 points. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Monday, as they purchased shares worth Rs 404.42 crore.
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