Mumbai: The Indian rupee appreciated against the US dollar. As per market experts, the easing of crude oil prices and sustained foreign fund inflows supported the upward rally of the local currency.
At the interbank foreign exchange, the Indian rupee opened at 79.59 against the US dollar. During trading, it then reached at 79.52, registering a rise of 11 paise over the last close. On Monday, the Indian currency had closed at 79.63 against the US dollar. The forex market was closed on Tuesday on account of ‘Muharram’.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.10% to 106.26. Foreign institutional investors were net buyers in the Indian capital market, purchasing shares worth Rs 1,449.70 crore.
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