Mumbai: The Indian rupee remained firm against the US dollar on Friday. The Indian currency stayed in a straightjacket for yet another week, trading at its near all-time low of 84.07. As per forex traders, the firm American currency and unprecedented foreign fund outflow weighed upon the Indian currency.
At the interbank foreign exchange, the local currency opened at 84.07 against the US dollar, trading flat at previous day’s closing level in initial deals. On Thursday, the rupee had settled flat at 84.07 against the US dollar. The local currency has been struggling to recover since October 11, when it closed at its lowest level of 84.10 against the dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was higher by 0.03 per cent at 103.95.Foreign institutional investors (FIIs) were net sellers in the Indian capital markets on Thursday, as they offloaded shares worth Rs 5,062.45 crore.
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