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

Mumbai: The Indian rupee edged higher against the US dollar and the UAE dirham. As per market experts, sustained foreign fund inflows and bullish momentum in domestic equities supported the domestic currency.

At the interbank foreign exchange, the domestic currency opened at 82.01 against the US dollar and then rose to 81.77, registering a gain of 33 paise over its previous close. It settled higher by 9 paise at 81.95 per dollar. The Indian rupee is trading at 22.28  against the UAE dirham. On Friday, the Indian rupee closed at 82.10 against the US currency.

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Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.05% to 102.96.  Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth Rs 6,397.13 crore. Foreign Portfolio Investors (FPIs) have pumped Rs 47,148 crore into Indian equities in June, making it the highest inflow in 10 months.

 

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