Mumbai: The Indian rupee edged higher against the US dollar in the forex markets. Sustained foreign fund inflows supported the Indian currency. Forex traders said the Indian rupee is trading in a narrow range as investors are awaiting cues from the minutes of the US Fed’s May meeting, due later in the day.
At the interbank foreign exchange, the domestic currency opened at 82.83 against the US dollar and then rose to 82.77, registering a gain of 8 paise over its previous close. On Tuesday, the Indian rupee closed at 82.85 against the US currency.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, fell 0.03% to 103.46. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth Rs 182.51 crore.
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