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Forex Market: Indian rupee gains against US dollar

Mumbai: The Indian rupee edged higher against the US dollar in the forex market. The easing crude oil prices and weakening of the American currency supported the upward rally of the domestic currency. But, the negative trend in the Indian equity markets and sustained foreign fund outflows weighed on the local currency and restricted the appreciation bias.

At the interbank foreign exchange, the Indian rupee opened at 82.34 against the US  dollar. During trading, it then gained further to reach at  82.28, registering a rise of 19 paise over its previous close. On Wednesday, the Indian rupee settled marginally higher at 82.47 against the US dollar.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.18% to 105.28. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth  Rs 1,241.87 crore.


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