In the Forex Market, the domestic currency the Indian rupee has slipped against the US dollar.
As per the market experts the weak opening of Indian equity market, rising crude oil prices and sustained foreign fund outflows has weighed upon the Indian rupee. But the weak performance of US dollar in the international market has supported the Indian rupee from further falling.
At the Interbank Foreign Exchange the Indian rupee opened at 71.26 and then slipped again to 71.27 registering a loss of 9 paise against the US dollar. The Indian rupee has settled trading against US dollar at 71.18 on Thursday.
The ‘Dollar Index’, which gauges the US dollar’s strength against a basket of six currencies has fell down by 0.05% to 98.44.
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