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

31 Jul 2023 , 10:07 AM

The Indian rupee started the trading week positively, opening marginally higher by 3 paise against the US dollar. The gain was attributed to the positive performance of Asian peers, backed by better-than-expected economic data from China. The local currency began at 82.22 against the dollar, slightly improving from its previous close of 82.25 on Friday.

The dollar index, which measures the greenback’s strength against a basket of currencies, increased to 101.72 from its last close of 101.62, adding to the overall market dynamics.

On the domestic front, India’s key benchmark indices, Sensex and Nifty, started the trading day on a relatively flat note on Monday, indicating cautious investor sentiment in the local market.

In the previous trading session, Foreign Institutional Investors (FIIs) were net sellers in the Indian equity market, offloading shares worth Rs 1,023.91 crore. In contrast, Domestic Institutional Investors (DIIs) showed a positive stance, net purchasing shares amounting to Rs 1,634.37 crore, according to provisional data available from the exchanges.

For feedback and suggestions, write to us at [e-mail]