Mumbai: The Indian rupee surged against the US dollar in the forex market. As per market experts, the easing crude oil prices and the weakening of the US dollar in the international markets supported the upward rally of the Indian currency. But the selling pressure in the Indian equity market capped the gain of the Indian rupee.
At the interbank foreign exchange, the Indian rupee opened strong at 74.10. During trading it reached at 74.17 against the US dollar, a rise of 11 paise. On Wednesday, the rupee had closed at 74.28 against the US dollar.
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The dollar index, which measures the US currency’s strength against a basket of six currencies, slipped 0.09% to 95.74. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 344.35 crore.
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