Mumbai: The Indian rupee appreciated against the US dollar and the UAE dirham in early trade on Thursday. The Indian rupee is edging higher against the US dollar for fourth day in a row. The weakening of the US dollar is supporting the Indian currency. However, the Indian currency was under pressure due to subdued equity market sentiment and elevated level of crude oil prices.
At the interbank foreign exchange, the domestic currency opened at 82.94 and gained further to 82.92 against the American currency in initial deals, registering a gain of 4 paise from its previous close. It is trading at Dh 22.59 against the UAE currency. The rupee settled 1 paisa higher at 82.96 against the US dollar on Wednesday. It reported a cumulative gain of 8 paise in the preceding two sessions.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.04 per cent lower at 103.87.Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Wednesday as they purchased shares worth Rs 284.66 crore.
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