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

Mumbai: The Indian rupee gained against the US dollar and UAE dirham in the forex market. The positive opening in the Indian share market, declining crude oil prices and the weakening of the US dollar has supported the Indian currency’s upward rally.

At the Interbank foreign exchange, the domestic currency opened at 74.32 against the US dollar. During trading it then gained further and reached at Rs 74.25 against the US currency, registering a gain of 13 paise. On Wednesday, the domestic currency settled at 74.37 against the US dollar. The Indian rupee is at 20.23 against the UAE dirham.

Also Read: Commodity Market: Gold prices surged marginally 

The dollar index, which measures the US dollar’s strength against a basket of six currencies slipped down by 0.18% to 92.16.

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