Mumbai: The Indian rupee surged against the US dollar. As per the market experts, the support by the Dovish Central Bank has helped the Indian currency to surge against the US dollar.
At the interbank foreign exchange, the Indian rupee opened strong at 74.25 against the US currency. During trading, it inched higher to 74.19, up by 27 paise over its previous close. On Thursday, Indian rupee had settled at 74.46 against the US dollar. The forex market was closed on Friday for ‘Diwali Balipratipada’.
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The dollar index, which measures the US currency’s strength against a basket of six currencies, fell 0.01% to 94.31. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 328.11 crore.
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