Mumbai: The Indian currency edged higher against the US dollar and the UAE dirham in the forex market. Weakening of the US dollar in the overseas market and sustained foreign fund inflows supported the upward rally of the Indian currency.
At the interbank foreign exchange market, the Indian rupee opened higher at 82.08, up by 24 paise against the US dollar. It is trading at 22.36 against the UAE dirham. On Monday, the Indian rupee closed at 82.32. Forex markets were closed on Tuesday for the Mahavir Jayanti holiday.
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Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, declined 0.03% to 101.56. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth Rs 3.21 billion.
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