Mumbai: Indian rupee surged against the US dollar in early trade on Friday. As per forex traders, the softening crude oil prices and inflow of foreign funds supported the upward rally of the Indian currency. But, subdued domestic equity market and a stronger US dollar against major rivals overseas amid increased month-end dollar demand from importers weighed upon the Indian rupee and capped its gains.
At the interbank foreign exchange, the local currency opened at 83.64 against the American currency, registering a gain of 2 paise from its previous close. On Thursday, the rupee declined 8 paise to settle at 83.66 against the American currency.
Also Read: Sony launches closed-back headphones in India: Price, Features
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was up 0.15 per cent to 100.39.Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Thursday, purchasing shares worth Rs 629.96 crore.
Post Your Comments