Rupee Vs. USD: Indian Rupee Opens 2 Paise Lower Against The USD

26 Jul 2023 , 10:22 AM

The Indian rupee opened marginally lower against the US dollar on Wednesday due to the dollar’s strength. The local unit started at 81.89 per dollar, down by 2 paise from the previous close of 81.87.

The dollar index rose slightly, leading to a drop in Asian currencies, and the two-year US yield reached 4.90% ahead of the US Federal Reserve’s rate decision later in the day.

In the previous session on Tuesday, the rupee had ended 5 paise lower at 81.87 against the dollar. On the stock market front, the Indian benchmark equity indices, Sensex and Nifty, were trading higher.

Data from the exchanges revealed that on Tuesday, Foreign Institutional Investors (FIIs) net bought Indian shares worth Rs 1,088.76 crore, while Domestic Institutional Investors (DIIs) net sold shares worth Rs 333.70 crore.

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