Mumbai: The Indian rupee depreciated against the US dollar in the forex market. The negative opening of the Indian equity market weighed upon the local currency. But, the sustained foreign fund inflows into the capital market restricted the rupee’s fall.
At the interbank foreign exchange, the Indian rupee opened weak at 79.50 against the US dollar. During trading, it then reached at 79.46 , registering a decline of 22 paise over the last close. The rupee rose 16 paise to close at 79.24 against the dollar on Friday.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.05% to 106.57. Foreign institutional investors remained net buyers in the Indian capital market as they purchased shares worth Rs 1,605.81 crore.
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