Mumbai: The Indian rupee appreciated against the US dollar in the forex market. The anticipation of foreign fund inflows through LIC IPO has supported the domestic currency.
At the interbank foreign exchange, the Indian rupee opened at 76.46 against the American dollar. During trading it then gained to reach at 76.40, registering a rise of 8 paise from the last close. On Monday, the Indian rupee had settled at 76.48 against the US dollar. The forex market was closed on Tuesday on account of Id-Ul-Fitr.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.05% higher at 103.51. Foreign institutional investors were net sellers in the Indian capital market as they offloaded shares worth Rs1,853.46 crore, as per stock exchange data.
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