In the forex market, the domestic currency the Indian rupee has opened higher against the US dollar in the early hours of trade. The Indian rupee has opened at 71.70 against the US dollar registering a gain of 32 paise.
At the Interbank Foreign Exchange, the domestic currency opened at 71.70, higher by 32 paise against US dollar. The Indian rupee has declined by 36 paise to touch the 72 marks against the US dollar on yesterday.
The ‘Dollar Index’, the meter which gauges the US currency’s strength against a basket of six currencies has slipped 0.08% to 98.00.
The main reason for the upward movement of Indian rupee is the positive tend in the Indian share market and the US president’s latest opinion about trade with China.
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