Mumbai: The Indian rupee edged higher against the US dollar and UAE dirhams in the forex market. The positive trend in the Indian share market supported the upward rally of the local currency. But, the rising crude oil prices and sustained foreign fund outflows capped the gain of the domestic currency.
At the interbank foreign exchange, the Indian rupee opened at 77.54 against the American dollar. During trading, it then gained some more ground to reach at 77.52, registering a rise of 5 paise over the previous close. On Tuesday, the Indian rupee settled at 77.57 against the American currency. It is trading at 21.12 against the UAE dirham.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.06% higher at 101.92.