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Forex Market: Indian rupee depreciates against US dollar

The domestic currency, the Indian rupee has slipped down against the US dollar. As per market experts, the muted opening of Indian share market and the concerns over a new coronavirus strain has weighed upon the Indian rupee.

At the Interbank forex market, the Indian rupee opened at 73.89 against the US dollar. Then the Indian rupee slipped to 73.90 against the US dollar , registering a fall of 6 paise over its previous close.  On Tuesday, the Indian rupee had settled at 73.84 against the US dollar .

The dollar index which measures the US dollar’s strength against a basket of six currencies, fell 0.24% to 90.43.

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