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Forex Market: Indian rupee slips down against US dollar in early trade

The domestic currency, the Indian rupee has slipped down against the US dollar in the early hours of trading in forex market.  The muted opening of Indian share market has weighed upon the Indian rupee.

At the Interbank forex market, the Indian rupee opened at 73.02 against the US dollar . Later it inched down to 73.15 against the US dollar , registering a fall of 13 paise over its previous close. On Monday, the Indian rupee had appreciated by 9 paise to close at a four-month high of 73.02 against the US dollar.

The ‘Dollar Index’, which measures the US dollar’s strength against a basket of six currencies, fell 0.12 per cent to 89.76.

Also Read: Gold price shoots up 

Foreign institutional investors  purchased shares worth Rs 1,843.22 crore on a net basis on Monday.

 

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