Mumbai, November 17 (Language) The rupee fell by two paise to 83.25 against the American currency in early trade on Friday. Investor sentiment has been affected by the strengthening of the US dollar in foreign markets.
Following the fall in crude oil prices, the rupee opened flat at 83.23 per dollar in the interbank foreign exchange market. However, a strong US dollar and weak domestic markets weighed on the rupee sentiment and the local currency fell by two paise to 83.25 per dollar in early trade.
The rupee had closed at 83.23 against the US dollar on Thursday.
Meanwhile, the dollar index, which reflects the position of the US dollar against six major currencies of the world, remained flat at 104.35.
Global oil benchmark Brent crude was trading 0.40 per cent higher at $77.73 per barrel. Indian oil benchmark futures were down 0.85 per cent at US$83.09 per barrel.
According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 957.25 crore on Thursday.