In the Forex market, the domestic currency Indian rupee has surged against the US dollar. As per the market experts, the positive trend in the Indian share market has supported the upward rally of Indian rupee but the concerns over the Covid-19 pandemic has weighed upon the rupee.
At the Interbank Foreign Exchange the rupee opened at 76.07, and gained further ground and touched a high of 76.02 against the US dollar, registering a rise of 25 paise over its previous close. On Monday, rupee had settled at 76.27 against the US dollar. The Forex market was closed on April 14 on account of Baba Saheb Ambedkar Jayanti.
Meanwhile, the India rupee has touched 20.71 against the UAE dollar.
The ‘Dollar Index’, which measures the US Dollars’s strength against the basket of six currencies was trading 0.05% higher at 98.93.
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