Rupee Vs.USD: Rupee opens 4 paise lower against the USD

11 Aug 2023 , 10:13 AM

The Indian rupee commenced trading against the US dollar on Friday with a 4 paise decline, opening at 82.75 compared to the previous day’s close of 82.71. This marginal drop was attributed to the steady performance of the US dollar in the international market.

The rupee had shown strength in the previous session, gaining 11 paise against the dollar to close at 82.71. This gain had followed the decision of the Reserve Bank of India (RBI) to maintain its key interest rates at their current levels.

On the domestic front, Indian benchmark equity indices began the trading day on a lower note, influenced by mixed global cues.

Foreign institutional investors (FII) were observed to have made a net purchase of Indian shares worth Rs 331.22 crore on the previous day. Correspondingly, domestic institutional investors (DII) also displayed an interest in the market, acquiring stocks valued at Rs 703.72 crore, as per provisional data.

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