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Forex Market: Indian rupee rises against US dollar

Mumbai: The Indian rupee edged higher against the US dollar in the forex market. The weakening of the US dollar has supported  the upward rally of the Indian currency. At the interbank foreign exchange, the Indian currency surged marginally one paisa against the US dollar to 74.69.

The dollar index, which measures the  US dollar’s strength against a basket of six other  currencies, fell 0.04% to  95.45.

Also Read; Stock Market: Sensex, Nifty ends lower for third day in a row 

Meanwhile, the Foreign portfolio investors (FPIs) remained net sellers in the Indian equity market and  pulled out  Rs 6,834 crore   in the first four trading sessions. FPIs have withdrawn Rs 3,627 crore from equities, Rs 3,173 crore from debt segment and Rs 34 crore from hybrid instruments in February so far.

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