Mumbai: The Indian rupee edged higher against the US dollar and UAE dirham in the forex market. The positive opening of the Indian share market has supported the Indian currency.
At the interbank foreign exchange, the rupee opened at 75.05 against the dollar. During trading, it then inched higher to 75.03, higher by five paise against the US dollar. The Indian rupee on Monday had settled at 75.08 against the US dollar. The Indian currency is trading at 20.44 against the UAE dirham.
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The dollar index, which measures the US currency’s strength against a basket of six currencies, rose 0.10% to 93.90. Foreign institutional investors were net sellers in the Indian share market as they sold shares worth Rs 2,459.10 crore.
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