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Forex Market: Indian rupee rises against US dollar

Mumbai: The Indian currency surged against the US dollar in the forex market. The weakening of the US currency in the overseas market and sustained foreign fund inflows supported the local currency.

At the interbank foreign exchange, the domestic currency opened at 81.43 against the US dollar. During trading it then inched up to 81.42, registering a gain of 50 paise over its previous close. On Monday, the Indian rupee had settled at 81.92 against the US dollar. The forex market was closed on Tuesday on account of Gurunanak Jayanti.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.01% to 109.64. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets as they purchased shares worth Rs 1,948.51 crore.


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