Rupee Vs. USD: Indian Rupee Gains 5 Paise Against the US Dollar

The Indian rupee opened 5 paise higher against the US dollar on Wednesday, supported by an uptick in Asian peers and weakness in the greenback. The rupee commenced trading at 82.56 to a dollar, compared to the previous day’s close of 82.61.

The US dollar saw a slight decline as traders assessed the likelihood of a rate hike by the Federal Reserve in the upcoming week. The US dollar index slipped by 0.03% to 104.05.

In the previous session, the rupee had closed 6 paise higher at 82.61 against the US dollar, benefiting from a weaker greenback following disappointing US services data.

On Tuesday, Foreign Institutional Investors (FIIs) net purchased Indian shares worth Rs.385.71 crore, while Domestic Institutional Investors (DIIs) net sold shares worth Rs.489.02 crore, according to data available on exchanges.

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