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Forex Market: Indian rupee surge against US dollar

Mumbai: The Indian rupee gained against the US dollar in the forex market. As per market experts, the lower crude oil prices and weakening of the US currency has supported the Indian rupee. But the sustained foreign fund outflows and muted opening of the Indian share marked capped the gain of the Indian currency.

At the interbank foreign exchange, the Indian rupee opened strong at 75.10 against the US dollar. During trading it then inched further and reached at 75.09, up by 26 paise against the previous close.

Also Read: Commodity Market: Gold price increases marginally 

The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.06% to 93.67. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 505.79 crore.


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