Mumbai: The Indian rupee edged higher against the US dollar in the forex market. The weakening of the US dollar in the overseas market supported the upward rally of the Indian currency. However, a surge in crude oil prices capped sharp gains for the local currency.
At the interbank foreign exchange, the domestic currency opened at 81.74, then touched a high of 81.67 against the American currency, registering a rise of 14 paise over its last close. On Monday, the Indian rupee had settled at 81.81 against the dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.09% to 101.25. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 82.96 crore.
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