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Forex Market: Indian rupee slips against US dollar

The domestic currency, the Indian rupee had slipped down against the US dollar in the forex market. The muted opening of Indian share market and strengthening of US dollar has weighed upon the Indian rupee.

At the interbank forex market, the Indian rupee opened at 73.42 against the US dollar. During the early hours of trading the Indian rupee slipped down further to reach at 73.44 against the dollar, registering a decline of 4 paise over its previous close. On Monday, the Indian rupee had finished at 73.40 against the US dollar.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.12 per cent to 90.57.

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