Indian rupee opens 7 paise higher against the US dollar due to a decline in the US currency and reduced crude oil prices. Opening rate is 83.20 INR per USD, up from the previous close of 83.27 INR per USD.
Rupee had depreciated by 8 paise on Monday, reaching a record closing low of 83.27 INR per USD. The local currency is close to the all-time low of 83.29 INR per USD. Indian stock market indices Sensex and Nifty show lower trade in the pre-opening session.
On Monday, Foreign Institutional Investors (FIIs) sold Indian shares amounting to Rs 1,236.51 crore, while Domestic Institutional Investors (DIIs) purchased shares worth Rs 552.55 crore, based on provisional exchange data.
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