Rupee Vs. USD: Indian Rupee opens slightly higher against the USD

22 Aug 2023 , 09:42 AM

The Indian rupee began trading slightly higher against the US dollar on Tuesday, driven by a recovery in other Asian currencies. The opening rate for the local currency was 83.08 per dollar, a marginal improvement from its previous closing rate of 83.11.

The rupee had concluded Monday’s session at 83.11 against the dollar. In the domestic market, both Sensex and Nifty, the major equity indices of India, showed signs of trading higher during the pre-opening session.

On Monday, Foreign Institutional Investors (FIIs) were net sellers of Indian shares, with sales amounting to Rs 1,901.10 crore. In contrast, Domestic Institutional Investors (DIIs) had a different stance, net purchasing shares worth Rs 626.25 crore. These figures are based on provisional data available on the exchanges.

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