In the forex market the domestic currency, Indian rupee has gained against the US dollar. The Indian rupee has surged against US dollar as a result of the positive opening in the domestic share markets.
As per the market experts, the positive opening in the Indian share market has supported the upward rally of the Indian rupee. But the rising crude oil prices, sustained foreign fund outflows and strengthening of US dollar in the international market has weighed upon the Indian rupee.
At the Interbank Foreign Exchange the Indian rupee has opened at 71.24 and rised further to 71.21 against the US dollar gaining by 7 paise. The Indian rupee has settled at 71.28 against the US dollar on Tuesday.
The ‘Dollar Index’, which measures the US dollar’s strength against a basket of six currencies has rose by 0.04% to 98.75.
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