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Forex Market: Indian rupee gains against US dollar

Mumbai: The Indian rupee surged against the US currency in the forex market. The positive trend in domestic equities and weakening of the US dollar has supported the domestic currency.

At the interbank foreign exchange, the domestic currency opened at 82.71 against the US dollar. During trading, it then reached at 82.62, a gain of 26 paise over its previous close. On Friday, the local currency slipped 9 paise to close at 82.88 against the dollar. The forex market was closed on Monday on account of Diwali.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.12% to 111.85. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 153.89 crore.


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