Mumbai: The Indian rupee surged against the US dollar in the forex market. The Reserve Bank of India’s decision to maintain the status quo on the benchmark lending rate has supported the local currency.
At the interbank foreign exchange, the Indian rupee opened at 75.99 against the US dollar. During trading it touched 75.80 against the American currency, registering a rise of 23 paise from the previous close. On Thursday, the Indian rupee declined 19 paise to close at 76.03 against the US dollar.
Also Read: Reserve Bank of India keeps interest rate unchanged
The dollar index, which measures the American dollar’s strength against a basket of six currencies, rose 0.13% to 99.87. Foreign institutional investors remained net sellers in the Indian share market as they offloaded shares worth Rs 5,009.62 crore.
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