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Forex Market: Indian rupee surges against US dollar

The domestic currency, the Indian rupee had appreciated against the US dollar in the forex market. As per trade  analysts, the sustained foreign fund inflows and the weakening of US dollar in the global market has supported the upward rally of the Indian rupee.

At the interbank forex market, the Indian rupee opened at 73.15 against the US dollar. Later it gained momentum and gained by 19 paise to 73.12 against the US dollar. On Wednesday, the  Indian rupee gained  by 11 paise to close at more than two-month high of 73.31 against the US dollar.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.04% to 89.64.

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