Mumbai: The Indian rupee opened higher against US dollar in early trade on Friday. As per forex traders, sustained foreign fund inflows provided support to the local currency. Forex dealers said over the past four days, foreign investors have pumped over $2 billion into Indian equities, while month-to-date inflows into Indian bonds have exceeded $3 billion.
At the interbank foreign exchange, the Indian rupee opened at 85.64 against the US dollar, then touched 85.56, up 18 paise from its previous close. On Thursday, the rupee had weakened by 5 paise to close at 85.74 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 0.03 per cent lower at 104.30. Foreign institutional investors (FIIs) purchased Indian equities worth Rs 11,111.25 crore on a net basis on Thursday.
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