Mumbai: The Indian rupee appreciated against the US dollar in the forex market. The weakening of the US currency supported the upward rally of the Indian rupee. But, the losses in domestic stock markets and a rebound in oil prices, restricted the Indian rupee’s gains.
At the interbank foreign exchange, the Indian rupee opened higher at 81.62 and rose further to a high of 81.49. The local currency had closed lower at 81.70 on Tuesday.
The US dollar index, which measures the US dollar’s strength against a basket of 6 currencies, slipped 0.04% to 101.88. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital market as they sold shares worth Rs 760.51 crore.