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Forex Market: Indian rupee surges against US dollar

Mumbai: The Indian rupee gained against the US dollar in the forex market, as sustained foreign fund inflows and steady crude oil prices supported the upward rally of the local currency.

At the Interbank foreign exchange, the Indian currency opened firm at 74.53. During trading it inched higher and reached at 74.51, registering a gain of 3 paise. On Thursday, the Indian rupee settled at 74.54 against the US dollar.

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The dollar index, which measures the US currency’s strength against a basket of six currencies, slipped down by 0.06% to 92.56. The foreign institutional investors were net sellers in the Indian share market and they offloaded shares worth Rs 265.77 crore.

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