Mumbai: The Indian rupee appreciated against the US dollar in early trade on Wednesday, ahead of the Reserve Bank of India’s monetary policy announcement.
At the interbank foreign exchange market, the local currency opened at 83.92 against the American currency, registering a rise of 5 paise over its previous close. On Tuesday, the rupee rose 3 paise to close at 83.97 against the US dollar.
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The dollar index, which gauges the US dollar’s strength against a basket of six currencies, was up 0.03 per cent to 102.58 points. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Tuesday, as they offloaded shares worth Rs 5,729.60 crore.
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