Mumbai: The Indian rupee is trading in narrow range against US dollar in early trade on Wednesday. As per market experts, the support from positive macroeconomic data was negated by elevated crude oil prices, a negative trend in domestic equities and the overall strength of the American currency in the overseas market.
At the interbank foreign exchange, the Indian rupee opened at 83.36 against the US dollar , registering a rise of 6 paise over its previous close. The rupee on Tuesday settled 3 paise lower at 83.42 against the American currency.
Also Read: Motorola launches Edge 50 Pro in India: Price, Specifications
Meanwhile, the dollar index, which gauges the US currency’s strength against a basket of six currencies, was trading 0.09 per cent lower at 104.71.
Foreign institutional investors (FIIs) were net sellers in the Indian capital markets on Tuesday as they offloaded shares worth Rs 1,622.69 crore. Meanwhile, India’s manufacturing sector growth climbed to a 16-year high in March on the back of the strongest increase in output and new orders since October 2020.
Post Your Comments