Mumbai: The Indian rupee depreciated against the US dollar in early trade on Tuesday. As per market experts, the strengthening of the US dollar in the overseas markets and firm crude oil prices weighed on investor sentiments. However, positive domestic equities restricted the depreciating bias of the Indian currency.
At the interbank foreign exchange, the domestic currency opened at 82.32, registering a decline of 3 paise over its last close. It is trading at 22.40 against the UAE dirham. On Monday, the Indian rupee had settled at 82.29 against the dollar.
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The dollar index, which gauges the US currency’s strength against a basket of six currencies, rose 0.18% to 102.03. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 701.17 crore.
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