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Forex Market: Indian rupee advances against US dollar

Mumbai: The Indian rupee surged against the US dollar in the forex market. The weakening of the US dollar in overseas markets  supported the domestic currency.

At the interbank foreign exchange, the local currency opened at 81.69 against the US dollar. During trading, it then reached at 81.54, registering a rise of 16 paise over its previous close. On Thursday, the Indian rupee appreciated by 23 paise to close at 81.70 against the US dollar.

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The dollar index, which measures the US dollar’s  strength against a basket of six currencies, fell 0.23% to 105.82. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets as they purchased shares worth Rs 1,231.98 crore.

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