Mumbai: The Indian rupee edged higher against the US dollar in the forex market. The weakening of the US dollar has supported the domestic currency.
At the interbank foreign exchange, the Indian rupee opened at 76.17 against the American dollar. During trading it then gained further ground to quote at 76.11, registering a rise of 29 paise from the last close. On Wednesday, the Indian rupee had settled at 76.40 against the American currency.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.03% lower at 102.55. Foreign institutional investors were net sellers in the Indian capital market as they offloaded shares worth Rs 3,288.18 crore.
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