In the forex market, the domestic currency the Indian rupee has slipped down against the US dollar in the early hours of trading.
The Indian rupee has slipped by 17 paise to reach at 71.95 against the US dollar. The reason for the downfall of Indian rupee is the foreign fund outflow and the weak performance of Indian share market.
At the Interbank Foreign Exchange, today the Indian rupee opened weak at 71.96 and further slipped to 72.05 and later settled at 71.95 registering a loss of 17 paise. On yesterday, the Indian rupee has slipped by 29 paise to reach at 71.77 against US dollar.
The ‘Dollar Index’, the meter which gauges the US dollar’s strength against a basket of six currencies has fell 0.02% to 98.19.
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