Rupee Vs. USD: Indian Rupee Opens 14 Paise Lower Against The USD

3 Aug 2023 , 10:52 AM

The Indian rupee opened 14 paise lower against the US dollar on Thursday, starting at 82.72 paise compared to the previous close of 82.58 paise. The dollar exhibited strength against its peers, leading to a rise in its safe-haven appeal, while longer maturity US yields saw a slight increase after a credit rating downgrade for the US.

The previous day, the rupee experienced its most significant single-day loss in nearly two months, ending at 82.58 paise against the dollar.

The Indian benchmark equity indices, Sensex and Nifty, also traded lower during the pre-opening session on the same day.

Foreign institutional investors (FIIs) net sold Indian shares worth Rs 1,877.84 crore, and Domestic Institutional Investors (DIIs) sold shares worth Rs 2.23 crore, according to provisional data from exchanges.

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