Mumbai: The Indian rupee appreciated against the U.S. dollar in early trade on Thursday. As per forex traders, the positive domestic equities and the weakness of the American currency in the overseas market supported the upward rally of the Indian currency. However, unabated Foreign Institutional Investor (FII) sell-off and uncertainty surrounding U.S. President Donald Trump’s tariff stance weighed upon the Indian currency.
At the interbank foreign exchange, the rupee opened at 86.39 against the US dollar, then gained some ground and touched 86.25, up 12 paise from its previous close. On Wednesday, the rupee appreciated 19 paise to close at 86.37 against the US dollar.
Also Read: Commodity Market: Gold price again touch all-time high
Meanwhile, the US dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.04 per cent lower at 103.38. Foreign institutional investors (FIIs) offloaded Indian equities worth Rs 1,096.50 crore on a net basis on Wednesday.
Post Your Comments