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Forex Market: Indian rupee opens higher against US dollar, UAE dirham

Mumbai: The Indian rupee The rupee appreciated against the US dollar and UAE dirham  in morning trade on Wednesday. The weakening of the  American currency and a positive trend in domestic equities boosted investor sentiments.

At the interbank foreign exchange, the Indian rupee opened at 83.03, then touched 83.01 against the American currency, higher by 32 paise over its previous close.  The Indian currency is trading at 23.05 against the UAE dirham.  On Monday, the Indian rupee declined by 5 paise to settle at its all-time low of 83.33 against the American currency. The forex and equity markets were closed on Tuesday on account of Diwali-Balipratipada.

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Meanwhile, the dollar index was trading marginally up by 0.02% to 104.07. On Monday, the dollar index was at 105.77. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital market on Monday as they offloaded shares worth Rs 1,244.44 crore.


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