Mumbai: The Indian rupee opened higher against the US dollar in the forex market. The weakness of the American currency in the overseas market, after the US Fed raised interest rates, positive trend in domestic equities and sustained foreign fund inflows supported the upward rally of the Indian currency. However, a surge in crude oil prices capped sharp gains for the local currency.
At the interbank foreign exchange, the domestic currency opened at 81.92, then touched a high of 81.91 against the American currency, registering a rise of 10 paise over its last close. On Wednesday, the Indian rupee had settled at 82.01 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 0.05% to 100.83. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Wednesday as they purchased shares worth Rs 922.84 crore.
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