Mumbai: Indian rupee appreciated against the US dollar. As per market experts, positive trend in the share market and firm crude oil prices supported the local currency.
At the interbank foreign exchange, the rupee opened strong at 74.95 against the American dollar. During trading it inched higher to 74.88, registering a rise of 12 paise from the last close. Indian currency on Monday rose by 3 paise to a three-week high of 75 against the US dollar.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, remained unchanged at 96.09. Foreign institutional investors remained net sellers in the Indian share market, as they offloaded shares worth Rs 1038.25 crore.