Mumbai: The Indian currency rebounded in early trade on Thursday. The Indian currency was supported by positive domestic equities. But, the rising crude oil prices and sustained foreign fund outflows influenced investors’ and capped the gain of the Indian rupee. Moreover, investors remained cautious ahead of the Reserve Bank’s rate-setting panel’s decision to be announced on Friday.
At the interbank foreign exchange market, the local currency opened at 83.44 against the US dollar. During trading, it touched 83.42 against the US currency, higher 11 paise from its previous close. On Wednesday, the Indian rupee depreciated 11 paise to close at 83.53 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 0.05 per cent lower at 104.19. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Wednesday as they offloaded shares worth Rs 2,213.56 crore.
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