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Forex Market: Indian Rupee ends higher against US dollar

Mumbai: The Indian rupee  settled higher against the US dollar. The decline in crude oil prices, positive trend in the Indian equity market and weakening of the US  currency supported the upward rally of the local currency.

At the interbank forex market, the Indian currency opened higher at 79.16. The local currency touched a high of 79.00 and a low of 79.22. It setted at 79.02, higher by 22 paise over its previous close. On Friday, the Indian rupee had closed at 79.24 against the US dollar.

Also Read: Oil companies reduces jet fuel prices 

The dollar index, which measures the US currency’s strength against a basket of six currencies, was down 0.52% at 105.34. Foreign institutional investors were net buyers in the Indian equity  market, purchasing shares worth Rs 1,046.32 crore.

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