Mumbai: The domestic currency, the Indian rupee has edged lower against the US dollar in the forex market. As per the market experts, the heavy selling trend in the Indian share market and strengthening of the US dollar in the international market has weighed upon the Indian rupee.
At the Interbank foreign exchange, the Indian rupee at 73.13 against the US dollar. During trading, the Indian rupee slipped down to 73.17, lower by 27 paise against the US dollar. On Tuesday the Indian rupee settled at 72.90 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, rose 0.08% to 89.90. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 449.86 crore.
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