In the forex market the domestic currency, the Indian rupee had surged against the US dollar. As per the market experts, the positive opening of Indian share market, sustained foreign fund inflows and weakening of US dollar has supported the Indian rupee.
At the Interbank forex market, the Indian rupee opened up at 74.04 against the US dollar. The Indian rupee had later gained to 74.05 rising 10 paise against the US dollar. On Monday, the Indian rupee had settled 7 paise lower at 74.15. Indian rupee is at 20.21 against the UAE dirham.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.05% to 92.66.
Foreign portfolio investors (FPIs) bought shares worth Rs 4,548.39 crore, while domestic institutional investors (DIIs), were net sellers and sold shares worth Rs 3,036.31 crore in the Indian share market.
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