The rupee depreciated 7 paise to trade around 83.13 against the US dollar in early trade on Tuesday amid firm crude oil prices and outflow of foreign funds from domestic equity markets. The local currency opened at 83.10 a dollar as compared to its previous close of 83.06.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.01% lower at 102.17.
The rupee, however, found support due to marginal weakness in American currency and positive sentiment in the equity markets, forex traders said.
On Monday, the Indian currency settled at 83.10 against the dollar.
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Global crude oil price benchmark Brent crude rose by 0.17% to $78.08 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 55.98 points, or 0.08%, lower at 71,259.11, while the NSE Nifty 50 was down 26.90 points, or 0.13%, at 21,391.75.
On Monday, the Foreign institutional investors (FIIs) net sold Indian shares worth ₹33.51 crore, while Domestic Institutional Investors (DIIs) net purchased shares to the tune of ₹413.88 crore, as per provisional data available on the exchanges.
(With inputs from PTI)
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