Mumbai: The Indian currency remained firm against the US dollar and UAE dirham in the forex market. The strengthening of the US dollar, rising crude oil price and weak opening of the Indian equity market has weighed upon the domestic currency.
At the interbank foreign exchange, the Indian rupee opened lower at 74.18 against the US dollar. During trading it inched to 74.16, registering a fall of 1 paisa from the last close. The Indian rupee is trading at 20.20 against the UAE dirham. On Friday, the rupee had shed 25 paise to close at 74.15 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading unchanged at 95.16. Foreign institutional investors were net sellers in the Indian share market, as they offloaded shares worth Rs 1,598.20 crore.
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