Indian rupee starts Wednesday stronger, opening 5 paise higher against the US dollar. Increase attributed to the US dollar’s fall and decline in US Treasury yields. The rupee starts trading at 82.66 per dollar, compared to 82.71 the previous day. Tuesday saw the rupee closing 8 paise lower at 82.71 against the dollar.
Sensex and Nifty, key equity indices, show higher trade in the pre-opening session. Foreign institutional investors (FIIs) buy Rs 61.51 crore worth of Indian shares on Tuesday. Domestic Institutional Investors (DIIs) purchase shares worth Rs 305.09 crore. The weakening US dollar and lower US Treasury yields drive the rupee’s rise.
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