DH Latest NewsDH NEWSLatest NewsNEWSBusiness

Forex Market: Indian rupee recovers against US dollar, UAE dirham

Mumbai: The Indian rupee surged against the US dollar and UAE dirham in the forex market. The weakening of the US dollar and a slight pullback in crude oil prices supported the local currency. But according to market experts, the gain of Indian rupee will limited as the  Russia-Ukraine conflict has sapped risk appetite in the market, pushing investors towards safe-haven assets.

At the interbank foreign exchange, the Indian rupee opened at 77.02 against the US dollar. During trading it reached at 76.73, registering a gain of 20 paise from the previous close. It is trading at 20.90 against the UAE dirham. On Monday, the domestic currency settled at 76.93.

Also Read: Commodity Market: Gold price remains firm 

The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.16% to 99.13. Foreign institutional investors remained net sellers in the Indian stock  market as they offloaded shares worth Rs 7,482.08 crore.


Post Your Comments

Back to top button