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Indian rupee rises marginally against UAE dirham in early trade

Some buying by foreign equity investors supported the currency even though it was pressured by a subdued sentiment in the domestic equity markets

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By Agencies

Published: Wed 25 Oct 2023, 9:45 AM

The rupee appreciated by 5 paise to 83.11 against the US dollar (Dh22.64) in early trade on Wednesday, tracking a weak America currency and softening crude oil prices in the overseas market.

Some buying by foreign equity investors supported the Indian currency even though it was pressured by a subdued sentiment in the domestic equity markets, forex traders said.

At the interbank foreign exchange market, the local unit opened stronger by 8 paise at 83.08 and then touched the lowest level of 83.11 against the greenback, registering a gain of 5 paise from its previous close.

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China helped Asian stocks rise from 11-month lows on Wednesday as investors cheered the approval of a trillion-yuan sovereign issue as a harbinger of stimulus, while the Aussie dollar jumped after hotter-than-expected inflation lifted rate forecasts.

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Agencies

Published: Wed 25 Oct 2023, 9:45 AM

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