In the Forex market the domestic currency Indian rupee has slipped down against the US dollar in the early trading.
The main reason for the downfall of Indian rupee is the heavy demand for the US dollar from importers. But the easing crude oil price and the weakening of US dollar against other global currencies has supported Indian rupee form not going too much down.
At the Interbank Foreign Exchange the Indian rupee has opened at 71.20 against US dollar down by 4 paise. The Indian rupee has settled lower by 27 paise on Thursday.
The ‘Dollar Index’ which measures the strength of US dollar against a basket of six currencies slipped down by 0.01% to reach at 97.60.
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