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Forex Market: Indian rupee gains against US dollar

Mumbai: The Indian rupee gained against the US currency in the forex market. The weakening of the US dollar has supported the local currency. But, the weak domestic equities and foreign fund outflows  weighed upon it and restricted the gains.

At the interbank foreign exchange, the domestic currency opened at 81.11 against the US dollar, then gained to reach at  81.08, registering a rise of 18 paise over its previous close. On Thursday, the Indian rupee appreciated by 4 paise to close at 81.26 against the US dollar.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.01% to 104.71. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs1,565.93 crore.


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