Mumbai: The Indian rupee appreciated against the US dollar in early trade on Thursday. The weakening of the American currency and a downward trend in the crude oil prices supported the upward rally of the Indian currency. The domestic currency, however, weighed down by a volatile equity market and sustained outflow of foreign funds.
At the interbank foreign exchange, the local currency opened at 82.88 and dipped to 82.89 against the US dollar, registering a gain of 2 paise from its previous close. On Wednesday, the Indian rupee settled 2 paise lower at 82.91 against the US dollar.
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The dollar index, which gauges the US dollar’s strength against a basket of six currencies, was 0.11 per cent lower at 103.86 on Thursday. Foreign institutional investors (FIIs) were net sellers in the Indian capital markets on Wednesday as they offloaded shares worth Rs 1,879.23 crore.
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