Mumbai: The Indian rupee depreciated against the US dollar in the forex market. The negative trend in the Indian share market, rising crude oil prices, sustained foreign fund outflows and firm American currency weighed on the domestic currency.
At the interbank foreign exchange, the Indian rupee opened lower at 77.52 against the American dollar. During trading, it then reached at 77.55, registering a fall of 30 paise from the last close. On Wednesday, the Indian the rupee had settled at 77.25 against the American currency.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.10% higher at 103.95.Foreign institutional investors remained net sellers in the Indian equity market as they offloaded shares worth Rs 3,609.35 crore.
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