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Forex Market: Indian rupee opens flat against US dollar

Mumbai: The Indian rupee opened little changed against the US dollar on Wednesday. Sharp decline of crude oil prices and a decline in US Treasury yields supported the Indian currency.

At the Interbank foreign exchange, the Indian rupee  opened at 83.25 a dollar. On Tuesday, the Indian rupee ended at 83.26 a dollar.

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Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was 0.03% higher at 105.58. The 10-year US yield was down to 4.58%. The Foreign institutional investors (FIIs) sold Indian shares worth Rs 497.21 crore, while Domestic Institutional Investors (DIIs)  purchased shares worth Rs 700.28 crore on Tuesday.

 

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