Mumbai: The domestic currency, the Indian rupee had surged against the US dollar and UAE dirham in the forex market. As per the market experts, the weakening of the US dollar and declines in the coronavirus infection in the country had supported the upward rally of the Indian rupee.
At the Interbank foreign exchange, the Indian rupee opened at 72.57 against the dollar. During trading, the Indian rupee inched higher and reached 72.54 against the dollar registering a gain of 8 paise over its previous close. On Monday the Indian rupee had settled at 72.62 against the U.S. dollar. The Indian rupee is at 19.76 against the UAE dirham.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.03% to 89.80. The foreign institutional investors were net buyers in the Indian share market as they purchased shares worth Rs.2,412.39 crore.
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