Mumbai: The Indian rupee edged higher against the US dollar in the forex market. The domestic currency is trading in a narrow range as market participants are vigilant ahead of RBI’s monetary policy outcome on Thursday.
At the interbank foreign exchange, the Indian rupee opened at 82.56 against the US dollar, then rose to 82.52, registering a gain of 8 paise over its previous close. On Tuesday, the Indian rupee closed at 82.60 against the US currency.
Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.02% 104.10. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth 385.71 crore.