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Forex Market: Indian rupee opens lower against US dollar

The domestic currency, the Indian rupee has opened marginally lower against the US dollar in the 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 73.18 against the US dollar, registering a fall of 3 paise over its previous close. On Wednesday, the Indian rupee ended higher by 10 paise at 73.15 per dollar versus Tuesday’s close of 73.25.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose marginally by 0.04 per cent to 90.39.  Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs. 1,879.06 crore on a net basis.

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