Mumbai: The Indian rupee surged against the UAE dirham and the US dollar in the forex market. The expectations over the monetary policy decision to be announced by the Reserve Bank of India has supported the domestic currency. But, the negative trend in the Indian equity markets, surging crude oil prices and sustained foreign fund outflows capped the gain of the domestic currency.
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At the interbank foreign exchange, the Indian rupee opened strong at 77.70 against the US dollar. During trading, it then gained further and reached at 77.69, registering a rise of 9 paise over the last close. It is trading at 21.16 against the UAE dirham. On Tuesday, the Indian rupee had closed at a record low of 77.78 against the US dollar.
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