Mumbai: The Indian rupee surged against the US currency in the forex market. The firm trend in the Indian equity market supported the Indian currency. But, the sustained foreign fund outflows capped the gains of the local currency.
At the interbank foreign exchange, the domestic currency opened at 82.32 against the dollar, then reached at 82.34, a gain of 6 paise over its previous close. On Tuesday, the Indian In rupee slipped 10 paise to end at 82.40 against the dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.06% to 112.06. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 153.40 crore.
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