Mumbai: The Indian rupee edged higher against the US dollar in early trade on Tuesday. As per market experts, sustained foreign fund inflow, positive cues from the domestic equity market and softening of the American currency against its major rivals boosted investors’ sentiment. But, the rising crude oil prices weighed on the Indian currency.
At the interbank foreign exchange market, the local currency opened at 83.36 against the US dollar. he rupee touched 83.36 against the American currency, up 1 paise from its previous close. On Monday, the domestic currency settled at 83.37 against the US dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.11% higher at 103.58. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market on Monday as they bought shares worth Rs 1,261.13 crore.
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