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Forex Market: Indian rupee slumps against US dollar

The domestic currency, the Indian rupee had slipped down against the US dollar in the  forex market. As per market experts, the foreign fund outflows and rising crude oil prices had weighed upon the Indian rupee.

At the Interbank forex market, the Indian rupee opened at 73.76 against the US dollar, down  29 paise over its previous close. On Friday, the rupee had settled at 73.47 against the US dollar. The dollar index, which measures the US dollar ‘s strength against a basket of six currencies, fell 0.03 per cent to 90.84.

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Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 8,295.17 crore.

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