In the forex market the domestic currency Indian rupee has weakened against the US dollar.
As per the market experts the concerns of fiscal slippage and Coronavirus outbreak fears has weighed upon the Indian rupee. The disappointment over the union budget also supported the downward rally of Indian rupee.
At the Interbank Foreign Exchange the Indian rupee opened at 71.62 and then slipped to 71.66 lower by 34 paise against US dollar.
Indian rupee has settled trading at 71.32 against US dollar on Friday.
The ‘Dollar Index’, which measures the strength of US currency against a basket of six currencies has rose by 0.23% to 97.63.
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