Mumbai: The Indian rupee recovered against the US dollar in the forex market. The positive opening of the Indian equity markets has supported the domestic currency.
At the interbank foreign exchange, the rupee opened strong at 74.35 against the US dollar. During trading, it then inched higher to 74.30, registering a rise of 12 paise from the last close. On Thursday, the Indian currency surged 29 paise to close at a more than one-month high of 74.42 against the US dollar.
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The dollar index, which measures the US currency’s strength against a basket of six currencies, was trading 0.05% higher at 96.01. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 986.32 crore.
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