Forex Market: Indian rupee gain against US dollar

Mumbai: The Indian rupee edged higher against the US dollar in the forex market. The weakening of the US dollar in the international market, sustained foreign fund inflows and positive opening of the Indian share market has supported the domestic currency.

At the interbank foreign exchange, the local currency opened at 73.49 against the US dollar. It then inched higher and reached at 73.46, up 6 paise over its previous close. On Thursday, the Indian rupee had settled at 73.52 against the US dollar.

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The dollar index, which measures the US currency’s strength against a basket of six currencies, fell 0.11% to 92.83. Meanwhile, in the Indian share market, the foreign institutional investors remained net buyers and they purchased shares worth Rs 1,621.88 crore.