Forex Market: Indian Rupee rises against US dollar, UAE dirham

In the forex market the domestic currency, the Indian rupee had surged against US dollar. As per market experts, the announcement by Reserve Bank of India on interest rate has supported the Indian rupee.

At the Interbank forex market, the Indian rupee gained 15 paise to 73.09 against the US dollar in early trade . On Thursday, the rupee closed at 73.24 against the US dollar. UAE dirham is at 19.91 against the Indian rupe.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.15% to 93.46.

In the Indian share market, the foreign institutional investors were net buyers and they purchased shares worth Rs 978.37 crore on Thursday.