Mumbai: The domestic currency, the Indian rupee edged higher against the US dollar in the forex market. As per market experts, the positive trend in the Indian share market and the weakening of the US dollar in the international market has supported the upward rally of the Indian rupee.
At the Interbank foreign exchange, the Indian rupee opened a higher at 72.94 against the US currency. During trading, the Indian currency reached 73.03 against the dollar, registering a gain of 3 paise. On Thursday, the Indian rupee had ended at 73.06 against the US dollar.
The dollar index, which measures the US dollar’s strength against a basket of six currencies slipped to 90.0. Foreign institutional investors (FIIs) net bought shares worth Rs. 1,329.7crore, while domestic institutional investors (DIIs) net sold shares worth Rs. 575.19 crore in the Indian share market.