Mumbai: The Indian rupee edged higher against the US currency in the forex market. As per market experts, the positive trend in the Indian share market has supported the upward rally of the Indian currency.
At the Interbank foreign exchange, the domestic currency, opened flat at 74.30 against the US dollar. During trading the local currency inched higher and reached at 74.27, registering a gain of 2 paise over its previous close. On Thursday, the Indian rupee settled at 74.29. The Indian rupee is at 20.27 against the UAE dirham.
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The dollar index, which measures the US currency’s strength against a basket of six currencies, is at 91.96, higher by 0.11%. The foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 866.26 crore.
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