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The move is seen as part of Ukraine's efforts to reinforce its army as soldiers struggle to hold positions against Russia
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Indian rupee recovers to 20.29 against UAE dirham
Dubai - Rupee had closed at 20.36 versus dirham on Friday
The Indian rupee gained 26 paise to open at 74.48 against the US dollar (20.29 versus the UAE dirham) on Monday morning on the back of strong gains in local equity markets.
The South Asian currency opened at 74.51 against the greenback in the interbank market and later rose to 74.48 on Monday.
On Friday, the rupee had settled at 74.74 against the US dollar (20.36 versus Emirati dirham).
Meanwhile, the dollar index was trading 0.12 per cent up at 92.33 on Monday.
The Bombay Stock Exchange (BSE) Sensex was trading 270.62 points or 0.52 per cent higher at 52,755.29, while the broader NSE Nifty advanced 84.75 points or 0.54 per cent to 15,806.95.
Forex traders said foreign fund outflows and firm crude oil prices could weigh on investor sentiment and cap the appreciation of the local unit.
Global oil benchmark Brent crude futures fell 0.05 per cent to $76.13 per
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