Indian rupee inches up against UAE dirham in early trade

The rupee inched up 1 paisa against the US dollar in early trade on Tuesday, as the support from positive domestic equities was negated by elevated crude oil prices and a strong American currency overseas.

Forex traders said the dollar strengthened on safe-haven demand. However, a positive trend in domestic equities supported the rupee at lower levels.

At the interbank foreign exchange, the rupee was trading in a narrow range. The Indian currency opened at 83.26 against the dollar (23.12 against the UAE dirham). It rose slightly to 83.25 against the greenback in initial trade, up 1 paisa from its previous close.

• Indian rupee rises marginally against UAE dirham in early trade