Market Update: Rupee stable at 83.24 against US dollar
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The rupee remained steady at 83.24 against the US dollar in early trade on Friday as rising crude oil prices weighed on investor sentiment despite positive domestic macroeconomic data.
Foreign exchange analysts said that the Indian currency remains under pressure due to the negative trend of Asian markets and continuous withdrawal of foreign funds. At the interbank foreign exchange market, the rupee opened at 83.24 per dollar and traded in a narrow range of 83.23 to 83.25 per dollar.
Later it remained stable at Thursday’s closing level of 83.24 against the US dollar. Meanwhile, the dollar index, which reflects the position of the US dollar against six major currencies of the world, fell by 0.15 percent at 106.44.
Global oil benchmark Brent crude futures rose 0.58 percent to $ 86.50 per barrel. Foreign institutional investors sold shares worth Rs 1,862.57 crore on Thursday.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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