In the forex market, the domestic currency the Indian rupee has gained against the US dollar. As per market experts, the positive opening of Indian share market and the expectation of Joe Biden’s victory in the US Presidential elections has supported the Indian rupee.
At the Interbank forex market, the Indian rupee opened at 74.35 against the US dollar. The Indian rupee then gained further ground and touched 74.29, registering a rise of 47 paise against US dollar.
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On Wednesday, the Indian rupee had slipped down by 35 paise to settle at 74.76 against the US dollar. This was the weakest level of Indian rupee in over 10 weeks against the US dollar.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.07% down at 93.34.
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