The domestic currency, Indian rupee has surged against the US dollar in the forex market. As per market experts, the sustained foreign fund inflows, positive opening of Indian share market and weakening of US dollar has supported the upward rally of Indian rupee.
At the interbank forex market, the Indian rupee opened at 73.52 against the US dollar. Later it gained momentum and reached at 73.51 against the US dollar , registering a rise of 4 paise over its previous close. On Thursday, the rupee had settled at 73.55 against the US dollar.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs.1,225.69 crore on a net basis.