In the forex market, the domestic currency the Indian rupee has surged against the US dollar. The Indian rupee has appreciated by 16 paise to reach at 68.79 against the US Dollar.
The main reason for the upward rally of Indian rupee was the selling of the US dollar by exporters in foreign markets. Yesterday, the Indian rupee has settled trade at 68.95 against the US dollar.
As per the market experts, the forex market may witness volatility as the Union budget is to be presented on Friday.
In the Indian capital market, the Foreign Institutional Investors remained net sellers and pulled out Rs.512 crore.
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