Mumbai: The Indian currency edged higher against the US dollar in the forex market. The foreign fund inflows into the Indian capital markets and a firm trend in the equity market supported the local currency.
At the interbank foreign exchange, the Indian rupee opened p at 79.55 against the US dollar. During trading, it then reached at 79.39, registering a gain of 30 paise over the last close. On Thursday, the Indian rupee had settled at 79.69 against the American currency.
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The dollar index, which gauges the US currency’s strength against a basket of six currencies, slipped 0.30% to 106.03. Foreign institutional investors turned net buyers in the Indian capital markets as they picked up shares worth Rs1,637.69 crore on Thursday.
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