In the forex market the domestic currency Indian rupee has surged against US dollar in the early hours of trading.
As per the market experts the weakening of US currency in the global market has supported the Indian rupee. But the rising crude oil prices and weak opening of the Indian share market has weighed upon the Indian rupee.
At the Interbank Foreign Exchange,the Indian rupee opened at 71.28 and then rallied upwards and reached at 71.23 against the US dollar.
On Monday the Indian rupee has ended trading against the US dollar at 71.31.
The ‘Dollar Index’ which measures the US currecny’s strength against a basket of six currencies has slipped down by 0.04% to 96.69.
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