In the forex market the domestic currency, Indian rupee has slipped against the UAE Dirham and the US dollar.
As per market experts, the weak opening of Indian share market, and the strengthening of US dollar weighed upon the Indian rupee. Bu the steady crude oil prices and sustained foreign fund inflows supported the Indian rupee.
At the Interbank Foreign Exchange, the Indian rupee opened on a positive note at 74.88 , but soon lost ground and touched 74.98 against US dollar, down 5 paise over its last close. It had settled at 74.93 against the US dollar on Tuesday.
The Indian rupee is trading at 20.43 against the UAE dirham.
The ‘Dollar Index’, which measures the US dollar’s strength against a basket of six currencies, rose 0.07% to 96.95.