The domestic currency, the indian rupee had gained against US dollar and the UAE dirham. As per the market experts, the lowering of crude oil prices, sustained foreign fund inflows has supported the upward rally of the Indian rupee. But muted opening of Indian share market and a strong dollar overseas weighed upon the rupee.
At the interbank forex market, the Indian rupee opened strong at 72.47 against the US dollar. During trading the Indian rupee gained further ground to reach at 72.46, registering a rise of 6 paise . On Friday, the Indian rupee had settled at 72.52 against the US dollar.
Against the UAE dirham, the Indian rupee was trading at 19.72 on Monday . The rupee has been strengthening since April 22, 2020, when it was trading at 21.07 against the UAE dirham.