Rupee Vs. USD: Indian Rupee opens 5 paise lower against the USD

8 Aug 2023 , 10:01 AM

The Indian rupee opened 5 paise lower against the US dollar on Tuesday due to weakness in other Asian currencies and a recovery in the dollar index. The local currency started the day at 82.79 a dollar, compared to the previous close of 82.84.

In the previous session, the rupee had gained by 10 paise to close at 82.84 against the dollar. Crude oil prices saw an increase as concerns emerged regarding supply, triggered by production cuts initiated by Saudi Arabia and Russia.

On the domestic front, the benchmark equity indices of India, Sensex, and Nifty, were trading higher during the early session.

The data from the previous day revealed that Foreign Institutional Investors (FIIs) had sold Indian shares worth Rs 1,892.77 crore, while Domestic Institutional Investors (DIIs) had purchased shares amounting to Rs 1,080.80 crore, according to provisional exchange data.

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