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Forex Market: Indian rupee edges marginally higher

Mumbai: The domestic currency edged higher marginally against the US dollar and UAE dirham. The surging crude oil prices and strengthening of the US dollar capped the gain of the local currency.

At the Indian interbank foreign exchange, the Indian rupee opened at 75.54 against the American dollar. During tradin it then reached at 75.47 against the American currency.  It is trading at 20.58 against the UAE dirham. On Monday, the rupee started the financial year 2022-23 on a bullish note. It surged 21 paise to close at a one month-high of 75.53 against the US dollar.

Also Read; Commodity Market: Yellow metal edges lower 

The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.03% to 99.02. Foreign institutional investors remained net buyers in the Indian share market as they purchased shares worth Rs 1,152.21 crore.


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