Indian rupee started lower against the US dollar on Monday, down by 11 paise. This drop is attributed to the overall strength of the US dollar and rising US treasury yields. The opening rate was 83.04 rupees to a dollar, compared to the previous close of 82.93 rupees.
Previously, the rupee had gained 16 paise, closing at 82.93 rupees to a dollar on Friday. This gain followed the news of India being included in JPMorgan’s flagship emerging market bond index.
In the domestic stock market, Sensex and Nifty 50 were trading with a slight positive bias during the pre-opening session.
On the previous Friday, Foreign Institutional Investors (FIIs) sold Indian shares amounting to Rs 1,326.74 crore. On the same day, Domestic Institutional Investors (DIIs) bought shares worth Rs 801.27 crore, according to provisional exchange data.
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