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Forex Market: Indian rupee gains against US dollar, UAE dirham

The domestic currency, the Indian rupee had surged against US dollar in the forex market. As per the market experts, the positive opening of Indian share market and weakening of US dollar has supported the Indian rupee.

At the Interbank forex market, the Indian rupee opened at 74.93 against the US dollar, gained further ground and touched 74.87 against the US dollar, registering a gain of 17 paise over its previous close. Indian rupee had settled at 75.04 against the US dollar on Tuesday. The Indian rupee is trading at 20.38 against the UAE dirham.

The ‘Dollar index’, which measures the US dollar’s strength against a basket of six currencies, fell 0.28% to 93.12.

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