Mumbai: The Indian rupee opened on a flat note against the US dollar in initial deals on Tuesday. Sustained foreign fund outflows, muted trend in domestic equities and the strengthening of the American currency in the overseas market dented investor sentiment. As per forex traders, easing crude oil prices and any intervention by the Reserve Bank of India (RBI) may also support the local currency at lower levels.
At the interbank foreign exchange, the Indian rupee opened at 84.08 against the US dollar. In the initial trade, it touched 84.07. On Monday, the Indian rupee settled 1 paisa higher at 84.07 against the US dollar. The local currency touched its lowest closing level of 84.10 against the dollar on October 11.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.02 per cent higher at 104.33. Foreign institutional investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 3,228.08 crore.
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