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Forex Market: Indian rupee gains against US dollar

Mumbai: The Indian rupee gained against the US dollar in the forex market. The weakening of the US currency in overseas markets, positive trend in domestic equities and fresh foreign fund inflows supported the local currency.

At the interbank foreign exchange, the domestic currency opened at 82.59 against the US dollar. During trading,  it then then gained ground and touched 82.57, registering a rise of 13 paise over its previous close. On Monday, the Indian rupee fell by 12 paise to close at 82.70 against the US currency.

Also Read: Buffer Zone: The expert committee report will be presented in the following week.

Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.16% to 103.18. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth Rs 1,322.39 crore.




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