Mumbai: The Indian rupee appreciated against the US dollar and UAE dirham in the forex market. The weakening of the US dollar and easing crude oil prices have supported the upward rally of the Indian currency.
At the interbank foreign exchange, the rupee opened at 74.92 against the dollar. During initial trading it then inched higher and reached at 74.87 against the US currency, up by 16 paise over its previous close. On Wednesday, the Indian rupee had settled at 75.03 against the US dollar. The Indian rupee is trading at 20.4 against the UAE dirham.
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The dollar index, which measures the US currency’s strength against a basket of six currencies, rose 0.04% to 93.84. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 1,913.36 crore.
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