Mumbai: The Indian rupee is trading in a narrow range against the US dollar in early trade on Thursday. As per market experts, sustained foreign fund outflows, negative trend in domestic equities and strength of the American currency in the overseas market weighed on investor sentiments.
At the interbank foreign exchange, the domestic currency opened at 83.26 against the US dollar and then touched an early high of 83.25, registering a gain of 3 paise over its previous close. On Wednesday, the Indian rupee settled at 83.28 against the US dollar.
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The dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.04% higher at 106.60. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Wednesday as they sold shares worth Rs 1,831.84 crore.
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