Mumbai: The Indian rupee edged higher against the US dollar and the UAE dirham. The positive trend in the Indian equity market and the weakening of the US dollar supported the upward rally of the Indian currency. Meanwhile, the sustained foreign fund outflows and rising crude oil prices capped the gain of the domestic currency.
At the interbank foreign exchange, the Indian rupee opened strong at 78.06 against the US dollar. During trading, it then reached at 78.07 , registering a rise of 15 paise over the last close. On Wednesday, the local had closed at a record low of 78.22 against the US dollar. The Indian currency is trading at 21.27 against the UAE dirham.