Mumbai: The Indian rupee gained against the US currency in the forex market. The foreign fund inflows, softening crude oil prices and weakening of the US dollar has supported the upward rally of the local currency.
At the interbank foreign exchange, the Indian rupee opened 78.96 against the US dollar. During trading, it gained further ground and reached at 78.94, registering a rise of 12 paise over the last close. On Monday, the domestic currency had closed at 79.06 against the US dollar.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.22% to 105.21. Foreign institutional investors were net buyers in the Indian capital market, purchasing shares worth Rs 2,320.61 crore.