In the forex market the domestic currency the Indian rupee is surged against the US dollar.
The upward rally of Indian rupee was supported by the weakening of US dollar in the global market. But the weak opening of Indian share market, foreign fund outflows and rising COVID-19 cases weighed on the Indian rupee.
At the interbank forex market Indian rupee opened at 75.64 against the US dollar, then gained some ground and touched 75.52 against the US dollar, before being quoted at 75.56, up 9 paise over its last close. It had settled at 75.65 against the US dollar on Friday.
The Indian rupee is trading at 20.56 against the UAE dirham.
The ‘Dollar Index’, which measures the US dollar’s strength against a basket of six currencies, fell by 0.11% to 97.32.
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