Mumbai: The Indian rupee opened flat against the US dollar in early trade on Thursday. Volatile crude oil prices and lackluster sentiment in the domestic equity markets weighed upon the Indian currency. A weaker American currency supported the local currency, but it was weighed down by the relentless outflow of foreign funds, forex traders said.
At the interbank foreign exchange, the Indian rupee opened at 84.41 and slipped further to 84.42 against the US dollar, trading at its previous closing level in early deals. On Tuesday, the rupee settled flat at 84.42 against the US dollar. The foreign exchange market was closed on Wednesday due to assembly elections in Maharashtra.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading lower by 0.11 per cent at 106.49.Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Tuesday, as they offloaded shares worth Rs 3,411.73 crore.
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