Rupee Vs. USD: Indian Rupee Opens 3 Paise Higher Against The USD

17 Jul 2023 , 10:47 AM

The Indian rupee started the week on a slightly stronger note against the US dollar, supported by a steady performance of the greenback. The Indian rupee opened at 82.14 against the US dollar, marking a marginal gain of 3 paise compared to the previous close of 82.17.

This slight appreciation indicates a positive start for the local currency in the forex market. The dollar index, which measures the strength of the US dollar against a basket of major currencies, remained mostly unchanged after ending a five-day losing streak on Friday.

On Friday, the Indian rupee broke its four-day winning streak and closed 10 paise lower at 82.17 against the US dollar. Various market factors may have influenced the slight depreciation of the rupee in the previous session.

In the domestic stock market, the benchmark equity indices, Sensex and Nifty, were trading higher during the opening session.

On Friday, foreign institutional investors (FIIs) net purchased Indian shares amounting to Rs 2,636.43 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 772.45 crore, according to provisional data available on the exchanges.

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