Mumbai: The Indian rupee edged higher against the US dollar in the forex market. The positive trend in the Indian equity market, weakening of the US dollar and expectations over a diplomatic solution in Russia-Ukraine war has supported the domestic currency. But the rising crude oil price capped the gains of the local currency.
At the interbank foreign exchange, the Indian rupee opened strong at 75.65 against the US dollar. During trading, it then reached at 75.69, a rise of 4 paise over the last close.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.24% to 98.20.Foreign institutional investors were net buyers in the Indian share market as they bought shares worth Rs 35.47 crore.
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