The Indian rupee opened lower against the US dollar, trading at 82.76, down 8 paise from its last close. Increase in the US Dollar Index, indicating its strengthening against other currencies, was due to safe-haven demand in the overseas markets. The Chinese Yuan also continues to weaken further, which may impact the local unit’s upside. Meanwhile, in domestic markets, FIIs were net buyers in the equity capital markets, purchasing shares worth INR 1,185.84 crore on Wednesday.
