Mumbai: The Indian currency edged higher against the US dollar in the forex market. The weakening of the American currency in the overseas market, sustained foreign fund inflows and crude oil prices below USD 80 a barrel supported the local currency.
At the interbank foreign exchange, the domestic currency opened at 81.80 against the US dollar and then climbed to 81.75, registering a rise of 12 paise over its previous close. On Tuesday, the Indian rupee closed at 81.87 against the US currency.
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Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.24% to 101.71. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth Rs 1,997.35 crore.
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