In the forex market the Indian rupee has slipped against the US dollar. The main reason for the downfall of Indian rupee as per forex traders is the weak macroeconomic data. The union government has released the inflation rate and it has disappointed the market.
At the Interbank Foreign Exchange the Indian rupee opened weak at 71.35 and then slipped again to 71.42down by 9 paise against the US dollar. The Indian rupee has settled against the US dollar at 71.33 on Wednesday.
The ‘Dollar index’ which measures the US currency’s strength against a basket of six currencies has slipped down by 0.04% to 99.01.
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