Rupee Vs. USD: Rupee Opens 5 Paise Lower Against The USD

17 Aug 2023 , 09:52 AM

On Thursday, the Indian rupee started the day a bit weaker compared to the US dollar, going down by 5 paise. This drop happened because other Asian currencies were also not doing well, mostly due to the increase in US Treasury yields.

The local currency commenced its trading at 83.00 against the US dollar, a slight dip from the previous session’s closing rate of 82.95.

Within the Indian market, the equity benchmark indices, namely Sensex and Nifty, were observed to be trading lower during the pre-opening session.

In terms of investment flows, the preceding day saw Foreign Institutional Investors (FIIs) making net purchases of Indian shares valued at Rs 722.76 crore. Simultaneously, Domestic Institutional Investors (DIIs) also engaged in net share acquisitions worth Rs 2,406.19 crore, as indicated by provisional data accessible on the stock exchanges.

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