Mumbai: The Indian rupee appreciated against the US dollar in early trade on Thursday. The weakening of the US currency and positive domestic equities supported the local currency. Earlier the US Fed kept interest rates on hold, and its chairman looked content with the economy’s soft landing. Following the decision, the dollar index softened, and the 10-year bond yield fell to 4.70.
At the interbank foreign exchange, the domestic currency opened at 83.23 against the US dollar and then touched an early high of 83.19, registering a gain of 9 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 measures the US dollar’s strength against a basket of six currencies, was trading 0.51% lower at 106.34. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they sold shares worth Rs 1,816.91 crore.
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