Mumbai: The Indian rupee opened on a flat note against the US dollar in early trade on Friday. The sustained outflow of foreign funds and volatile crude oil prices in the overseas market weighed upon the domestic currency.Meanwhile, positive equity market sentiment and a weak American currency, however, provided support to the domestic currency.
At the interbank foreign exchange, the domestic currency opened at 82.87 and inched up further to trade at Thursday’s closing level of 82.85 against the US dollar. The rupee appreciated 11 paisa to close at 82.85 against the US dollar on Thursday. The unit saw a cumulative gain of 19 paise in the previous four consecutive sessions since February 15.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.02 per cent lower at 103.85. Institutional Investors (FIIs) were net sellers in the Indian capital markets on Thursday as they offloaded shares worth Rs 1,410.05 crore, according to exchange data.
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