In the Forex market the domestic currency, the Indian rupee has appreciated against the US dollar in the early hours of trading.
As per the market experts, the positive opening in the Indian share market has supported the upward rally of Indian rupee. But the sustained foreign fund outflows and strengthening of the US dollar has weighed upon it.
At the Interbank Foreign Exchange the rupee opened at 75.52, then gained ground and touched 75.51, registering a rise of 8 paise over its previous close. On Monday, the rupee had settled at 75.59 against the US dollar.
The ‘Dollar Index’, which measures the US currency’s strength against a basket of six currencies, was trading 0.17 per cent higher at 99.34.
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