Mumbai: The Indian rupee appreciated against the US dollar in early trade on Thursday. As per forex traders, the weakening of the American currency and crude oil prices supported the Indian currency.
At the interbank foreign exchange, the Indianrupee opened at 86.88 and gained further ground to trade at 86.79 against the US dollar during early deals, up 19 paise from its previous close. On Tuesday, the rupee depreciated 10 paise to close at 86.98 against US dollar. The forex market was closed on Wednesday on account of ‘Chatrapati Shivaji Maharaj Jayanti’.
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Meanwhile, the US dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.16 per cent lower at 107. Foreign institutional investors (FIIs) offloaded Indian equities worth Rs 1,881.30 crore on net basis on Wednesday.
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