In the forex market the domestic currency, Indian rupee has surged against the UAE dirham and the US dollar. As per the market experts, the weakening of US dollar and the positive opening of the Indian share market, steady crude oil prices and sustained foreign fund inflows has supported the Indian rupee.
At the Interbank Foreign Exchange, the Indian rupee opened at 74.53 against the US dollar, then gained some ground and touched 74.52 against US dollar, registering a jump of 14 paise over its previous close. Indian rupee had settled at 74.66 against the US dollar on Friday.
The Indian rupee is firm at 20.34 against the UAE dirham
The ‘dollar Index’, which measures the US dollar ’s strength against a basket of six currencies, fell 0.22% to 96.96.
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