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Forex Market: Indian rupee rises against US dollar

In the forex market, the domestic currency the Indian rupee risen against the US Dollar. In the early hours of trade in the forex market, the local currency rise by 8 paise to trade at 69.38 against the US dollar.

In the Interbank forex exchange, the Indian rupee opened 69.38 against the US dollar and it further rallied up to touch 69.36 and later settled at 69.38 showing a gain fo 8 paise. The Indian rupee ended trading at 69.44 against the US dollar.

The main reason for the upward rally for the local currency was the easing of crude oil prices in the global market and the inflow of foreign funds to Indian markets.

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