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Forex Market: Indian rupee recovers against US dollar

Mumbai: The Indian rupee edged higher in the forex market. The positive trend in the Indian equity market and decrease in the crude oil price supported the domestic currency.

At the interbank foreign exchange, the Indian  rupee opened strong at 75.97 against the US dollar. During trading it then reached at  75.93, registering  a rise of 23 paise over the previous close. On Monday, the local currency had settled at 76.16 against the US currency.

Also Read: Commodity Market: Gold price slides down 

The dollar index, which gauges the US dollar’s strength against a basket of six currencies, slipped 0.06% to 98.99. Foreign institutional investors remained net sellers in the Indian share  market as they sold shares worth Rs 801.41 crore.


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