In the forex market, the domestic currency Indian rupee has slipped down today in the early hours of trading.The Indian rupee has slipped down by 9 paise to reach at 71.57 against the US dollar.
The reason for the downfall of Indian rupee was the foreign fund outflow and the cautious opening of Indian share market.
At the Interbank Foreign Exchange, the Indian rupee has opened weak at 71.50 and then it further slipped to 71.57 against the US dollar registering a loss of 9 paise against the US currency.
The Indian rupee has closed trading yesterday at 71.48 against the US dollar.
The ‘Dollar Index’, the meter that gauges the US currency’s strength against the basket of six currencies was higher by 0.08% at 98.07.
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