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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 easing crude oil prices and sustained foreign fund inflow has supported the upward rally of Indian rupee.

At the Interbank Foreign Exchange the domestic currency has opened at 70.80 and gained further and settled at 70.75 registering a gain of 8 paise over US dollar. On Friday the Indian rupee has settled trading at 70.83 against US dollar.

The ‘Dollar Index’ which measured the strength of US currency against a basket of six currencies has slipped down by 0.11% to 97.06.

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