Mumbai: The Indian currency appreciated against the US dollar in the forex market. The weakening of the US dollar supported the Indian rupee. But the rising crude oil prices and muted opening of the Indian equity market has capped the gain of the local currency.
At the interbank foreign exchange, the rupee opened at 74.71 against the US dollar, registering a rise of 17 paise from the last close. On Thursday, the domestic currency had settled at 74.88 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.25% lower at 95.14. Foreign institutional investors were net sellers in the Indian share market, as they offloaded shares worth Rs 1,597.54 crore.
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