Rupee Vs. USD: Indian Rupee opens 17 paise lower against the USD

7 Jul 2023 , 10:44 AM

The Indian rupee began the trading session on Friday with extended losses, opening 17 paise lower against the US dollar. This decline was prompted by concerns over the potential tightening of Federal Reserve policies following strong US private hiring data. The local unit opened at 82.68 per dollar, compared to the previous close of 82.51.

In the domestic market, the Indian equity indices, Sensex and Nifty, were trading lower during the pre-opening session.

On Thursday, provisional data from the exchanges revealed that Foreign Institutional Investors (FIIs) made net purchases of Indian shares worth Rs 2,641.05 crore. However, Domestic Institutional Investors (DIIs) net sold shares worth Rs 2,351.66 crore.

The data indicates that foreign investors remained bullish on Indian equities, while domestic investors opted to offload their shares.

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