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Forex Market: Indian rupee slips down

In the forex market, the domestic currency Indian rupee has slipped down against the US currency US dollar in early hours of trade on today. The Indian rupee slipped by 20 paise to reach at 71.47 against the US dollar.

At the Interbank Foreign Exchange, the domestic currency opened weak at 71.33 and then slipped to 71.47 against the US dollar. The Indian rupee has settled trading at 71.27 against US dollar on Wednesday. The market was closed on yesterday on account of Independence Day.

The Dollar Index, which measures the US currency’s strength against a basket of six global currencies went up today by 0.07% to 98.21.

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