Mumbai: The Indian currency edged higher against the US dollar in the forex market. The firm trend in domestic equities ahead of the Reserve Bank of India’s monetary policy decision supported the local currency. But, the rising crude oil prices in the overseas markets and sustained foreign capital outflows capped the gains.
At the interbank foreign exchange, the domestic currency opened strong at 82.67 against the US dollar. During trading, it then reached at 82.66, up by 4 paise over its last close. On Tuesday, the rupee rose 6 paise to close at 82.70 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.10% to 103.33. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital market as they offloaded shares worth Rs 2,559.96 crore.
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