Mumbai: The Indian rupee edged higher against the US dollar and the UAE dirham. As per market experts, the strengthening of the US dollar and the sustained foreign fund outflows capped the gain of the local currency.
At the Indian interbank foreign exchange, the Indian rupee opened at 79.76 against the American dollar, registering a gain of 6 paise over the last close. On Friday, the local currency settled at 79.82 against the US currency, higher by 17 paise.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.26% to 107.77. Foreign institutional investors remained net sellers in the Indian share market. FPIs offloaded shares worth Rs 16.49 billion.