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Forex Market: Indian rupee rises against US dollar

Mumbai: The Indian rupee gained against the US dollar in the forex market. As per market experts, the domestic currency is trading in a narrow range as investors are awaiting cues from the key speech from US Federal Reserve Chair Jerome Powell.

At the interbank foreign exchange, the Indian rupee opened at 74.17 against the dollar. During trading it then inched higher to 74.15, up 7 paise over its previous close. On Thursday, the India rupee had settled at 74.22 against the US dollar.

Also Read: Commodity market: Gold price rises for the first time this week 

The dollar index, which measures the US currency’s strength against a basket of six currencies, fell 0.06% to 93.00.

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