Indian rupee rises against UAE dirham as US dollar weakens, inflation eases

The rupee appreciated 32 paise to 83.01 against the US dollar (23.05 against UAE dirham) in morning trade on Wednesday as the American currency retreated from its elevated levels after US inflation came lower than expected.

Forex traders said the rupee opened on a bullish note as the American currency weakened after US Inflation eased to its lowest level since September 2021.

Moreover, a positive trend in domestic equities boosted investor sentiments.

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