Mumbai: The Indian rupee gained against the US dollar and UAE dirham. As per the market experts, the positive opening of the Indian share market and weakening of the American currency has supported the upward rally of the Indian currency.
At the interbank foreign exchange, the local currency opened at 73.26 against the dollar. During trading, it inched higher and reached at 73.25, up 4 paise over its previous close. The Indian rupee is at 19.95 against the UAE dirham. On Monday, the rupee had settled at 73.29 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was down 0.12% at 92.54.
According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee has appreciated nearly one rupee since Friday. ‘RBI has been present intermittently and equity inflows have also been aiding the rupee after Fed rhetoric on Friday’, said Anil Kumar Bhansali.
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