Mumbai: The Indian currency surged against the US dollar in the forex market. The positive trend in the Indian share market and the and fresh foreign fund inflows strengthened local currency. But, the strengthening of the US dollar has capped the gains of the domestic currency.
At the interbank foreign exchange, the Indian rupee opened up at 79.95 against the American dollar. During trading, it then gained further strength to trade at 79.92, registering a gain of 7 paise over the last close. On Thursday, the Indian rupee had closed at an all-time low of 79.99 against the US currency.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, gained 0.03% to 108.57. Foreign institutional investors turned net buyers in the Indian share market, as they bought shares worth Rs 309 crore.
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