Forex Market: Indian rupee recovers against US dollar

Mumbai: The Indian rupee edged higher in the forex market. The easing of crude oil prices supported the upward rally of the local currency.

At the interbank foreign exchange, the Indian rupee opened at 78.20 against the American dollar, higher by 12 paise. The rupee on Thursday had closed at its all-time low of 78.32 against the US dollar.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.16% lower at 104.26.