Indian rupee opens higher against UAE dirham, helped by stock market gains – News

The dollar index fell 0.04% to 96.03.

PTI file

Published: Thu 23 Dec 2021, 09:41

The Indian rupee appreciated 12 paise to 75.42 against the US dollar (20.55 against the UAE dirham) on Thursday morning, following a positive trend in Indian stock markets.

Forex traders said firm crude prices and continued outflows of foreign funds were weighing on the rupee and limiting gains

On the Indian interbank exchange, the rupee opened at 75.43 and rose further to 75.42 against the US dollar in early trades, up 12 paise since the last close.

In the previous session, the rupiah stood at 75.54 against the greenback.

Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.04% to 96.03.

On the Indian stock market front, the 30-stock Sensex traded 292.41 points or 0.51% higher at 57,222.97, while the broader NSE Nifty advanced 88.80 points or 0.52 % to 17,044.25.

Global benchmark Brent crude oil futures rose 0.27% to $75.49 a barrel. Foreign institutional investors remained net sellers in the capital market on Wednesday as they unloaded shares worth Rs 827.26 crore, according to stock market data.

(with PTI entries)

About Tammy N. McFarlane

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