Mumbai: The Indian rupee recovered against the US dollar in the forex market. The signs of de-escalation in the conflict between Russia and Ukraine and positive trend in the Indian share market has supported the local currency.
At the interbank foreign exchange, the Indian rupee opened at 75.24 against the US dollar and then inched higher to 75.14, recording a rise of 18 paise from the last close. On Tuesday, the rupee snapped its five-session losing streak and surged 28 paise to close at 75.32 against the US dollar. The local currency is trading at 20.47 against the UAE dirham.
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The dollar index, measures the US dollar ’s strength against a basket of six currencies, was trading at 0.06% higher at 96.04.
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