Mumbai: The Indian rupee appreciated against the US dollar in morning trade on Friday, ahead of the Reserve Bank’s monetary policy decision. Forex traders said fresh foreign fund inflows supported investor sentiments, however, a muted trend in domestic equities weighed on the domestic currency.
At the interbank foreign exchange, the Indian rupee opened at 84.66 and moved in a tight range and touched 84.64 against the US dollar, registering a gain of 7 paise over its previous close. On Thursday, the Indian rupee recovered from its all-time low level and settled for the day with gains of 4 paise at 84.71 against the US dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading higher by 0.06 per cent at 105.78. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Thursday, as they purchased shares worth Rs 8,539.91 crore.
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