Mumbai: The Indian rupee depreciated against the US dollar in the morning session on Tuesday. As per forex traders, the strengthening of the American currency overseas, sustained foreign fund outflows and negative trend in domestic equities weighed on the local currency.
At the interbank foreign exchange, the Indian rupee opened at 83.23. During trading, it then touched 83.26 against the American currency, registering a decline of 5 paise over its previous close. On Monday, the Indian rupee had settled at 83.21 against the US dollar.
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The dollar index, which gauges the US currency’s strength against a basket of six currencies, was trading 0.14%t higher at 105.36.Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Monday as they sold shares worth Rs 549.37 crore.
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