Mumbai: The Indian rupee edged higher against the US dollar and UAE dirham in the forex market. The weakening of the US dollar and positive trend in the Indian equity market supported the local currency. However, sustained foreign fund outflows and surging crude prices in the international markets restricted the gain of the domestic currency.
At the interbank foreign exchange, the Indian rupee opened marginally strong at 77.69 against the American dollar. During trading, it then reached at 77.66, registering a rise of 4 paise over the last close. On Friday, the Indian rupee had settled at a record low of 77.70 against the American currency. It is trading at 21.16 against the UAE dirham.
dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.42% lower at 102.71.