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Forex Market: Indian rupee slips down against US dollar

In the forex market, the domestic currency the Indian rupee had slipped down. As per market experts, the sustained foreign fund outflows, weak opening of Indian share market and strengthening of US dollar has weighed upon the Indian rupee.

At the Interbank foreign exchange, the Indian rupee opened lower at 74.25 against the US dollar. During trading the Indian rupee lost further ground and touched 74.33, registering a fall of 24 paise over its previous close. On Friday, Indian rupee had closed at 74.09 against the US dollar.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading higher by 0.06 per cent at 91.33.

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