In the forex market the domestic currency Indian rupee has surged against the US dollar on today in the early hours of trading. The Indian rupee has appreciated by 27 paise to reach at 71.07 against the US dollar.
At the Interbank Foreign Exchange the Indian rupee opened at 71.19 and then go upward and settled at 71.07 registering a gain of 27 paise. On Thursday the Indian rupee has settled at 71.34 against the US dollar.
The Dollar Index which measures the US currency’s strength against the basket of six currency has slipped down by 0.04% to reach at 98.23.
The main reason for the upward rally of Indian rupee is the positive trend in the Indian stock market.
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