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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. The weakening of the US dollar in the global markets supported the domestic currency.

At the interbank foreign exchange, the rupee opened at 77.35 against the American dollar, then gained further ground to quote at 77.31, registering a rise of 19 paise from the last close. On Thursday, the rupee depreciated  25 paise to close at its lifetime low of 77.50 against the US currency.

Also Read; Commodity Market: Gold price slips down marginally 

The dollar index, which measures the US dollar’s  strength against a basket of six currencies, was trading 0.19% lower at 104.65. Foreign institutional investors were net sellers in the Indian equity  market as they offloaded shares worth Rs 5,255.75 crore.


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