Indian rupee gains against UAE dirham on foreign fund inflows

The dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped to 94.05

  
Image used for illustrative purpose. Closeup view of Indian rupee currency notes and coins.

Image used for illustrative purpose. Closeup view of Indian rupee currency notes and coins.

Getty Images/ jayk7

The Indian rupee appreciated 12 paise to 75.25 against the US dollar (20.5 versus the UAE dirham) at the opening of the market on Thursday, buoyed by heavy buying in the Indian equities and fresh foreign fund inflows.

Weakness in the dollar also helped the rupee but higher crude prices restrained the South Asian currency’s gains, forex dealers said.

At the Indian interbank foreign exchange, the rupee opened strong at 75.27 against the US dollar, then gained further ground to 75.25, registering a rise of 12 paise against the previous close.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.03 per cent to 94.05. While global oil benchmark Brent crude futures rose 0.70 per cent to $83.76 per barrel.

On Thursday, the BSE Sensex was trading 327.18 points or 0.54 per cent higher at 61,064.23, while the broader NSE Nifty surged 114.05 points or 0.63 per cent to 18,275.80.

(with inputs from PTI)

 

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