Mumbai; The Indian rupee fell against the US dollar in early trade on Tuesday. The massive outflow of foreign funds amid volatile global markets and strengthening American currency against major rivals weighed upon the Indian currency. But, a retreating crude oil prices and recovery in domestic equity markets resisted a steep fall in the rupee.
At the interbank foreign exchange, the local currency opened at 83.81 against the US dollar, registering a loss of 2 paise from its previous closing level. On Monday, the Indian rupee settled 10 paise lower at 83.79 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, rose 0.02 per cent to 100.54. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Monday, offloading shares worth Rs 9,791.93 crore.
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