Mumbai: Indian rupee paused opened flat against the US dollar in early deals on Friday. The retreating crude oil prices and a weak American currency against major Asian rivals supported the Indian currency. But, subdued sentiment in the domestic equity markets amid massive outflow of foreign funds in the past three days prevented a recovery in the rupee.
At the interbank foreign exchange, the local currency opened at 83.96 against the US dollar and failed to recover from the deep plunge witnessed in the previous session. On Thursday, the rupee slid 14 paise to settle at 83.96 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, fell 0.05 per cent to 101.69. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday, offloading shares worth Rs 15,243.27 crore on a net basis in the cash segment.
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