Mumbai: On Thursday the Indian Rupee commenced 8 paise lower at 66.57 against the US dollar at the Interbank Foreign Exchange due to superior demand for the American currency from importers and banks. At 9.40 am, the currency was buying and selling nearly 8 paise downward at 66.89.
Meanwhile, domestic equity markets commenced in green following international cues. The BSE Sensex opened 77.37 points, or 0.27 per cent, gains at 28,298.35, whereas NSE Nifty opened 24.75 points, or 0.28 per cent, increases at 8,768.70.
According to market experts, firming dollar next to other currencies abroad amid rising expectations of superior borrowing costs in the US weighed on the rupee. On Wednesday the rupee decreased 5 paise to conclude at 66.51 and snapped its three-straight session rally.
On Wednesday Foreign institutional investors stood net buyers in the domestic equity markets as they bought shares worth of Rs 503.72 crore on October 5. Gross purchases of FIIs stood at Rs 4,953.86 whereas gross sales remained at Rs 4,450.14 crore.