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Forex market: Indian rupee surge marginally against US dollar

Mumbai: The Indian rupee surged marginally against the US dollar in the forex market. Rising crude oil prices,  strengthening of  American currency , negative trend in the Indian equity markets and sustained foreign fund outflows weighed upon the domestic currency.

At the interbank foreign exchange, the domestic currency opened at 82.84 against the US dollar. During trading,  it then fell to 82.86, registering a rise of just 1 paisa over its previous close. On Tuesday, the Indian rupee closed at 82.87 against the dollar.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.14% to 104.32. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 867.65 crore.


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