Rupee Vs. USD: Indian Rupee Opens 4 Paise Higher Against the USD

29 Aug 2023 , 10:10 AM

The Indian rupee began Tuesday 4 Paise higher against the US dollar, opening at 82.59 compared to the previous day’s 82.63. The dollar index, which measures the US currency against other major currencies, dropped slightly by 0.077% to 103.85 after declining 0.2% on Monday. The index has risen 2% this month due to strong economic data, suggesting higher interest rates.

On Monday, the rupee had gained 2 paise against the dollar to close at 82.63. The Indian benchmark equity indices, Sensex and Nifty, traded higher in the pre-opening session.

In the previous day’s trading, Foreign Institutional Investors (FIIs) sold Indian shares worth Rs 1,393.25 crore, while Domestic Institutional Investors (DIIs) bought shares worth Rs 1,264.01 crore, according to provisional exchange data.

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