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Forex Market: Indian rupee gain against US dollar, UAE dirham

Mumbai: The Indian rupee gained  against the US dollar and the UAE dirham in the forex market.  The weakening of the US currency and positive trend in domestic equities supported the upward rally of the Indian rupee.  But, sustained foreign fund outflows weighed on the rupee and restricted the gain.

At the interbank foreign exchange, the Indian currency opened at 82.69 against the US dollar and marginally rose to 82.68, registering a rise of 11 paise over its previous close. It is trading at 22.52 against the UAE dirham. On February 27, the Indian rupee closed at 82.79 against the US currency.

Also Read: Commodity Market: Gold price edge higher marginally 

The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.06% to 104.73. Foreign Institutional Investors (FIIs) were net sellers in the Indian  capital market as they offloaded shares worth Rs20.22 billion.


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