Mumbai: The Indian rupee edged higher against the US dollar and UAE dirham in the forex market. As per market analysts, the Indian currency is trading in a narrow range ahead of the monthly expiry and the US Federal Reserve’s policy decision.
At the Interbank foreign exchange, the domestic currency opened at 74.44 against the US dollar. During trading the local currency gained marginally and reached 74.43, registering a gain of 4 paise against the US currency. On Tuesday, the Indian rupee settled at 74.46 against the US dollar. The Indian rupee is at 20.28 against the UAE dirham.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies surged by 0.04% to 92.46.