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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 weakening of the US dollar in the global markets has supported the local currency. But the rising crude oil prices and muted opening of the Indian equity market has restricted the gains of the Indian rupee.

At the interbank foreign exchange, the  Indian rupee opened at 74.65. During trading it  then gained further ground to touch 74.59 against the American dollar, registering a rise of 10 paise from the last close. In the previous session  the rupee had settled at 74.69 against the greenback.

Also Read:  Commodity Market: Gold price shoots up 

Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.13% higher at 95.52. Foreign institutional investors were net sellers in the capital market , as they offloaded shares worth Rs 1,157.23 crore.


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