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Forex Market: Indian rupee falls against US dollar, UAE dirham

The domestic currency, the Indian rupee had slipped down against the US dollar in the forex market. As per market experts, the sustained foreign fund inflows, corporate dollar flows, rising crude oil prices and strengthening of the US dollar in the overseas market weighed upon the Indian rupee.

At the Interbank forex market, the Indian rupee opened at 73.13 against the US dollar. During trading it fell further to 73.16 against the US dollar, registering a decline of 14 paise over its previous close.On Friday, the rupee had settled at 73.02 against the US dollar . Indian rupee had reached 19.86 against  UAE dirham.

Also Read: Gold prices shoots up

The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.07 per cent to 92.04.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 2,014.16 crore .

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