Mumbai: The Indian rupee edged higher against the US dollar. The weakening of the US dollar has supported the upward rally of the local currency.
At the interbank foreign exchange, the domestic currency opened at 81.08 against the US dollar. During trading, it then gained further ground to reach at 80.98, registering a rise of 32 paise over its previous close. On Wednesday, the Indian rupee rose by 42 paise to close at 81.30 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.27% to 105.66. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets as they purchased shares worth Rs 9,010.41 crore.
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