Mumbai: The Indian rupee gained against the US currency in the forex market. The weakening of the US dollar in overseas markets and positive trend in the Indian equity market supported the local currency. But, the rising crude oil price restricted the gain of Indian rupee.
At the interbank foreign exchange, the local currency opened at 81.66 against the US dollar. During trading, it then gained to 81.51, showing a gain of 31 paise over its previous close. The Indian rupee settled 42 paise lower at 81.82 against the American currency on Monday.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.14% to 111.58. Foreign institutional investors were net buyers in the Indian capital market as they purchased shares worth Rs 590.58 crore.
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