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Forex Market: Indian rupee rises against US dollar

Mumbai: The Indian rupee appreciated against the US dollar on Tuesday. The  positive trend in domestic equities and weakness of the American currency in the overseas market supported the Indian currency.

At the interbank foreign exchange, the local currency opened at 83.14 and gained further ground to trade at 83.10 against the US dollar, registering a gain of 3 paise from its previous closing level. On Monday, the Indian rupee pared its initial gains and settled for the day lower by 3 paise at 83.13 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 at 104.42, lower by 0.12 per cent. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Monday, as they offloaded shares worth Rs 541.22 crore.



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