Mumbai: The Indian rupee slipped down against the US dollar in the forex market. As per the market experts, the muted opening in the Indian share market and rising crude oil prices weighed upon the Indian currency.
At the Interbank foreign exchange, the domestic currency opened lower at 74.26 against the dollar, registering a fall of 7 paise over its previous close. The Indian rupee settled at 74.19 against the US dollar.
The dollar index, which measures the US currency’s strength against a basket of six currencies, was trading 0.07% up at 91.95. In the Indian share market, the foreign institutional investors were net sellers and they offloaded shares worth Rs 1,658.72 crore.