In the forex market the domestic currency, Indian rupee has gained against the US dollar.
As per the market experts the easing crude oil prices and weakening of US dollar in the international market has supported the upward rally of the Indian rupee. But the heavy selling in the Indian share market has restricted the upward rally of the local currency.
At the Interbank Foreign Exchange the Indian rupee opened at 71.36 and then rallied upward to reach at 71.32 against the US dollar gaining by 8 paise. The Indian rupee has settled trading on Friday at 71.40 against the US dollar.
The ‘Dollar Index’, which measures the US currency’s strength against a basket of six currencies has slipped down by 0.02% to 98.67.
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