Mumbai: The Indian rupee appreciated against the US dollar in the forex market. The easing crude oil prices and positive trend in the Indian share market supported the upward rally of the Indian currency.
At the interbank foreign exchange, the Indian rupee opened strong at 74.38 against the dollar. During early trade it gained further and reached at 74.33, higher by 12 paise over its previous close. On Friday, the Indian rupee had settled at 74.45 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.12% to 95.01. Foreign institutional investors were net buyers in the Indian share market as they purchased shares worth Rs 511.10 crore.
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