Mumbai: The Indian rupee ended firm against the US dollar in the forex market. As per market experts, the heavy selling in the Indian share market and Reserve Bank of India’s (RBI) decision to keep the key rates unchanged had its impact on the local currency.
At the interbank foreign exchange, the domestic currency opened higher at 74.10 against the US dollar. During trading, it oscillated between 74.08 and 74.22 and settled at 74.15. On Thursday, the Indian rupee ended at 74.15 against the US dollar.
The dollar index, which measures the US dollar’s strength against a basket of six currencies ended 0.20 higher at 92.43.
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Earlier, the apex bank in the country, Reserve Bank of India has kept the repo rate, the rate at which the central bank lends funds to banks, at 4%. The reverse repo rate, the rate at which the Reserve Bank of India (RBI) borrows money from banks for the short term, was held steady at 3.35%.
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