Mumbai: The Indian rupee appreciated against the US dollar in early trade on Friday. As per forex traders, the broad weakening of the US dollar and overall weakness in crude oil prices supported the upward rally of the Indian currency. Forex traders said rupee is expected to trade with a slight negative bias on weak domestic equities and foreign fund outflows.
At the interbank foreign exchange, the rupee opened at 86.50 against the US currency, up 14 paise from its previous close. On Thursday, the rupee appreciated 34 paise to close at 86.64 against the US dollar.
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Meanwhile, the US dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.04 per cent higher at 106.41. Foreign institutional investors (FIIs) offloaded Indian equities worth Rs 3,311.55 crore on net basis on Thursday.
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