Mumbai: The Indian rupee surged against the US dollar in the forex market. Sustained foreign fund inflows, heavy buying in the Indian share market and the weakening of the US currency supported the upward rally of the domestic currency.
At the interbank foreign exchange, the Indian currency opened strong at 75.27 against the US dollar. During trading it then inched higher to reach at 75.25, higher by 12 paise against the previous close. The Indian rupee settled at 75.37 on Wednesday. It is trading at 20.50 against the UAE dirham.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.03% to 94.05.