Mumbai: The Indian rupee edged higher against the US dollar in the forex market. The easing crude oil prices and weakening of the American currency supported the upward rally of the domestic currency. But, the negative trend in the Indian equity markets and sustained foreign fund outflows weighed on the local currency and restricted the appreciation bias.
At the interbank foreign exchange, the Indian rupee opened at 82.34 against the US dollar. During trading, it then gained further to reach at 82.28, registering a rise of 19 paise over its previous close. On Wednesday, the Indian rupee settled marginally higher at 82.47 against the US dollar.
Also Read: 2 strong earthquakes hits Indonesia
The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.18% to 105.28. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 1,241.87 crore.
Post Your Comments