Mumbai: The Indian currency slipped against the US dollar in early trade on Thursday. Rising crude oil prices, negative sentiment in domestic equity markets and withdrawal of foreign funds weighed upon the Indian rupee.
At the interbank foreign exchange, the Indian rupee opened at 83.16. During trading, it reached at 83.15, registering a loss of 1 paisa over its previous close. On Wednesday, the Indian rupee settled 2 paise lower at 83.14 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 0.16 per cent lower at 103.04. Foreign Institutional Investors (FIIs) were net sellers in the Indian equity market on Wednesday as they sold shares worth Rs 10,578.13 crore.
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