In the Forex market, the domestic currency Indian rupee has surged against the US dollar. In the early hours of trading the Indian rupee has surged by 6 paise to reach at 75.60 against the US dollar. The Indian rupee is trading against UAE dirham at 20.59.
As per market experts, the positive opening of Indian share market has supported the upward rally of Indian rupee. But sustained foreign fund outflows and concerns over coronavirus pandemic weighed on the Indian rupee.
At the interbank foreign exchange, the rupee opened at 75.60, registering a rise of 6 paise over its previous close.On Tuesday, the rupee had settled at 75.66 against the US dollar.
The ‘Dollar Index’, which measures the US currency’s strength against a basket of six currencies, was trading 0.09% higher at 99.46.