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Forex Market: Indian rupee hits 6-week high against US dollar

Mumbai: The Indian rupee has touched a six-week high against the US dollar. The domestic currency gained against the US dollar due to the positive trend in the Indian share market and weakening of the US dollar.

At the Interbank foreign exchange, the local currency opened at 74.16 against the US currency. During trading it gained 18 paise and reached at 74.10 against the US dollar. On Tuesday, the Indian rupee settled at 74.28. The Indian rupee is at 20.19 against the UAE dirham.

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The dollar index which measures the US currency’s strength against a basket of six currencies decreased by 0.06% to 92.02.

As per market experts, the dollar-rupee August contract on the NSE was at Rs 74.44 in the last session. The open interest is almost unchanged for the August series.


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