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Forex Market: Indian Rupee rises against US dollar

Mumbai: The Indian currency ended higher  against the US dollar in the forex market. The easing of crude oil price supported the upward rally of the local currency. But the sustained foreign fund outflows and a weak trend in domestic equities weighed on investor sentiments and restricted the appreciation bias.

At the interbank foreign exchange, the domestic currency opened at 82.87 against the US dollar. During trading,  it then gained further to end at  82.82, registering a rise of 18 paise over its previous close.  On Tuesday, the Indian rupee slumped 22 paise to close at its all-time low of 83 against the US dollar.

Also Read: Stock Market: Sensex, Nifty end lower 

The dollar index, which measures the US dollar’s strength against a basket of 6 currencies, fell 0.05% to 104.46. Foreign Institutional Investors (FIIs) were net sellers in the Indian  capital markets as they offloaded shares worth Rs 628.07 crore.


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