Mumbai: Indian rupee depreciated against the US dollar in early trade on Monday. The strengthening of the American currency in the overseas market, rising crude oil prices, negative trend in the equity markets and withdrawal of foreign funds amid renewed concerns over geopolitical tensions in the Middle East dented investor sentiments.
At the interbank foreign exchange, the Indian rupee opened at 83.46 against the US dollar and gained slightly to 83.44 in the initial trade, registering a fall of 6 paise over its previous close. On Friday, the Indian rupee closed 7 paise lower at 83.38 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 0.08 per cent lower at 105.75.Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Friday as they sold shares worth Rs 8,027 crore. India’s forex reserves jumped by $2.98 billion to a fresh peak of $648.562 billion for the week ended April 5.
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