Mumbai: The Indian recovered from its all-time low level and appreciated against the US dollar in early trade on Friday. Forex traders said the rupee is likely to remain in a weakening mode due to significant dollar demand.
At the interbank foreign exchange, the Indian rupee opened at 85.07, registering a gain of 6 paise from its previous close. On Thursday, the rupee depreciated 19 paise and breached the crucial 85 level to close at a fresh all-time low of 85.13 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 0.03 per cent at 108.43. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Thursday, as they offloaded shares worth Rs 4,224.92 crore.
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