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Forex Market: Indian rupee rises against US dollar, UAE dirham

Mumbai: The Indian rupee gained against the US dollar and UAE dirham in the forex market. As per market experts, the positive opening of Indian share market supported the local currency. But the sustained foreign fund outflows, rising crude oil prices and strengthening of US dollar has restricted the upward rally of the Indian currency.

At the Indian interbank forex market, the Indian rupee opened at 74.12 against the dollar. During trading, it weakened to reach at 74.13, a gain of nine paise over its previous close. On Monday, the Indian rupee settled at 74.22 against the US dollar. The Indian currency is at 20.19 against the UAE dirham.

Also Read: Commodity market: Gold prices surge again 

The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.08% to 93.04.


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