Forex Market: Indian rupee surges against US dollar, UAE dirham

Mumbai: The domestic currency, the Indian rupee surged against the US dollar and UAE dirham in the forex market.

At the Interbank foreign exchange, the Indian rupee opened at 72.96 against the US currency. The rupee had touched 72.94 against the US dollar, registering a gain of 3 paise over its previous close. On Wednesday, the Indian rupee settled at 72.97 against the US dollar. The Indian rupee is at 19.87 against the UAE dirham.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, advanced 0.10 percent to 90.21. Foreign institutional investors were net sellers in the Indian market, as they offloaded shares worth Rs 846.37 crore.