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Forex market: Indian rupee slips down against US dollar

The domestic currency, the Indian rupee had slipped down against the US dollar in forex market in the early hours of trading. At the interbank forex market, the Indian rupee opened at 73.09 against the US dollar. Later the Indian rupee slipped down to 73.11 against the US dollar , registering a loss of 4 paise over its previous close.

On Thursday, the Indian rupee appreciated 24 paise to end at a nearly four-month high of 73.07 against the US dollar.  The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.29% to 89.93.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,135.59 crore on a net basis.

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