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Forex Market: Indian rupee edges higher

Mumbai: The Indian rupee edged higher in the forex market. The positive trend in the Indian share market has supported the upward rally of the Indian currency. However, the surge in the Indian rupee was restricted by  the rise in crude oil prices and firm US dollar.

At the interbank foreign exchange, the Indian currency opened at 74.97 against the dollar. During trading it inched higher to 74.92, registering a rise of 15 paise from the last close. On Friday, the local currency had settled at 75.07 against the US dollar. Indian rupee is trading at 20.41 against the UAE dirham.

Also Read: India’s GDP projected to expand by 9.2% in 2021-22: Economic Survey

The dollar index, which measures the strength of US dollar’s strength against a basket of six currencies, was trading 0.13% lower at 97.14.

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