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Forex Market: Indian rupee ends lower against US dollar

The domestic currency, the Indian rupee has slipped down against the US dollar in the forex market. As per market experts, the strengthening of US dollar and the high demand for US dollar from importers has weighed down upon the Indian rupee.

At the Interbank Foreign Exchange, the Indian rupee opened higher at 72.86 against the US dollar. During the trading the Indian rupee touched a high of 72.80. At last the Indian rupee settled 4 paise lower at 72.97 against the US dollar. On Friday, the Indian currency had appreciated 3 paise to close at 72.93 against the US dollar.

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Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, surged 0.25 percent to 91.91.

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