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Forex Market: Indian rupee edges higher against US dollar

Mumbai: The Indian rupee edged higher against the US dollar in the forex market. The positive trend in the Indian share market, sustained foreign fund inflows and weakening of the US currency has supported the upward rally of the Indian currency. But the rising crude oil prices restricted the gains of the domestic currency.

At the interbank foreign exchange, the Indian rupee opened at 73.51 against the dollar. During trading, it inched higher and reached at 73.45, higher by 5 paise. On Wednesday, the Indian rupee had settled at 73.50 against the US dollar.

Also Read: Commodity Market: Gold rate slips down marginally 

The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.01% to 93.11.


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