The domestic currency, the Indian rupee had surged against the US dollar in the forex market. As per market experts, the sustained foreign fund inflows, weak performance of US dollar and positive development on the coronavirus vaccine has supported the Indian rupee.
At the Interbank forex market the Indian rupee opened at 73.98 per US dollar and gained by 6 paise over its previous close to touch 73.95 against the US dollar. On Tuesday, the Indian rupee settled 10 paise higher at a three-week high of 74.01 per dollar.
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Meanwhile, the dollar index which measures the strength of US dollar against a basket of six currencies was down 0.16% to 92.08.
Foreign portfolio investors (FPIs) bought shares worth Rs 4,563.18 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 2,522.11 crore in the share market.
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