In the forex market the domestic currency the Indian rupee has surged against US dollar. The positive opening of Indian share market and weakening of US dollar has supported the Indian rupee.
The rupee appreciated 14 paise to 75.28 against the US dollar in early trade on Wednesday tracking weakness in the greenback and gains in the domestic equity market.
In the interbank forex market, the Indian rupee opened at 75.35 against the US dollar, then gained further ground and touched 75.28 against the US dollar, up 14 paise over its previous close. It had settled at 75.42 against the greenback on Tuesday. Indian rupee is trading at 20.52 against the UAE dirham.
Meanwhile, the ‘dollar index’, which measures the US dollar ’s strength against a basket of six currencies, fell 0.05% to 96.21.
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