Mumbai: The Indian rupee recovered against the US dollar and UAE dirham in the forex market. The US Federal Reserve’s monetary policy decision has influenced the domestic currency.
At the interbank foreign exchange, the Indian rupee opened at 76.31 and then surged to 76.22 against the dollar, registering a rise of 10 paise. The local currency is trading at 20.76 against the UAE dirham. On Wednesday, the rupee slipped by 44 paise to close at a 20-month low of 76.32 against the US currency.
The dollar index, which gauges the US dollar’s strength against a basket of six currencies, slipped 0.09% to 96.42. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 3,407.04 crore.
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