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Forex market: Indian rupee rises against US dollar

In the forex market the domestic currency Indian rupee has surged against the US dollar in the early hours of trading. As per the market experts the sustained foreign fund inflows and easing crude oil prices supported the upward rally of the Indian rupee.

At the Interbank Foreign Exchange the domestic currency opened at 9098. and then surged to 70.94 against the US dollar registering a gain of 10 paise.The Indian rupee has settled trading on Monday at 71.04 against the US dollar.

The ‘Dollar Index’ which gauges the strength of US currency against a basket of six currencies has slipped down by 0.02% to 97.62.

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