Mumbai: The Indian rupee appreciated against the US dollar in the forex market. The heavy buying in Indian equities and a weakening of the US dollar in the international market has supported the upward rally of the Indian currency. But the rising crude oil prices restricted the rupee’s gain.
At the interbank foreign exchange, the India rupee opened at 75.74. During trading it edged higher to 75.73 against the US dollar, up by 17 paise from the last close. On Monday, the local currency settled at 75.90 against the US dollar. Indian rupee is trading at 20.63 against the UAE dirham.
Also Read: US adds 8 more countries to its ‘do not travel list’
The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.06% to 96.49. Foreign institutional investors (FIIs) remained net sellers in the Indian share market pulling out Rs 3,565.36 crore.
Post Your Comments