Mumbai: The Indian rupee surged against the US dollar in the forex market. The positive trend in the Indian equity market supported the local currency. But, the strengthening of the American dollar in the overseas market and rising crude oil prices capped the gains of the domestic currency.
At the interbank foreign exchange, the Indian rupee opened at 79.84 against the US dollar and touched 79.82, registering a gain of 5 paise over the last close. On Friday, the Indian rupee closed at 79.87 against the dollar.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, advanced 0.39% to 109.95. Foreign institutional investors were net sellers in the Indian capital market, offloading shares worth Rs 8.79 crore.