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Forex Market: Indian rupee gains against US dollar

In the forex market, the domestic currency Indian rupee today again gained against the US dollar. In the afternoon hours, the Indian rupee traded against the Us dollar at 69.57 showing a gain of 11 paise.

In the interbank forex market, the Indian currency opened today at 69.47. It has later touched  69.67 against the Us dollar. Yesterday the Indian rupee settled at 69.68 against the US dollar.

The main reason for the upward rally of the India rupee as per experts is the US Central Bank’s decision not to change the interest rate. The key interest rate has been kept in 2.25% to 2.5% by the US Federal Open Market Committee.

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