In the forex market the domestic currency Indian rupee has slipped down against US dollar in the early hours of trading. Sustained foreign fund outflows and negative opening of Indian equity markets are the main reasons for the downfall of local currency, explained the market experts .
At the Interbank Foreign Exchange the Indian rupee opened at 70.98 and then slipped down to 71.00 against US dollar registering a loss of 7 paise.
The Indian rupee has ended trading at 70.93 against the US dollar on Thursday.
The ‘Dollar Index’ which measures the strength of US dollar against a basket of sic currencies has surged by 0.02% to 97.34.
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