Mumbai: The Indian rupee settled higher against the US dollar in the forex market. The positive trend in the Indian share market has supported the upward rally of the local currency.
At the Interbank foreign exchange, the domestic currency opened 7 paise lower at 74.53 per dollar. During trading, it oscillated between 74.37-74.57 and settled at 74.40, higher by 6 paise. On Thursday, the Indian rupee ended at 74.46.
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The dollar index, which gauges the US currency’s strength against a basket of six currencies surged 0.10% to 92.91. The foreign institutional investors were net sellers in the Indian share market and they offloaded shares worth Rs 247.59 crore.
The Indian equity market also settled higher on Friday as BSE Sensex settled at 52,975.80 and NSE Nifty ended at 156,856.05.
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