The domestic currency, the Indian rupee has slipped down against the US dollar in the forex market. As per market experts, the negative trend in the Indian share market and strengthening of US dollar has weighed upon the Indian rupee.
At the Interbank forex market, the Indian rupee opened at 73.13 against the US dollar, registering a fall of 21 paise over its previous close. On Wednesday, the rupee had settled at 72.92 against the US dollar. The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.12% to 90.75.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 1,688.22 crore on a net basis on Wednesday.