Mumbai: The Indian rupee declined against the US dollar in early trade on Thursday. As per forex traders, rising crude oil prices, firm American currency and outflow of foreign funds weighed upon the Indian currency. However, positive domestic equity markets resisted a sharp fall in Indian currency, forex traders said.
At the interbank foreign exchange, the Indian rupee opened at 86.42 and slipped further to 86.44 against the US dollar in initial deals, trading 4 paise lower from its previous close. The rupee settled with a gain of 13 paise at 86.40 against the dollar on Wednesday, a day after rebounding 17 paise from its lowest-ever level.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.04 per cent higher at 108.96.Foreign institutional investors (FIIs) offloaded equities worth Rs 4,533.49 crore on Wednesday.
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