Mumbai: The Indian rupee gained against the US dollar in the forex market. As per market experts, the positive trend in the Indian share market, weak performance of US dollar in the international market and sustained foreign fund inflows has supported the upward rally of the Indian rupee.
At the interbank foreign exchange, the Indian rupee opened strong at 74.26 against the dollar. During trading, it edged higher and reached at 74.27, a rise of 17 paise against the last close. On Wednesday, the Indian currency settled at 74.44 against the US dollar.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05% at 92.87.
Foreign institutional investors were net buyers in the Indian share market as they bought shares worth Rs 238.14 crore.