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

Mumbai: The Indian rupee fell against the US dollar and UAE dirham on the forex market. The strengthening of the US currency has weighed upon the Indian rupee, but the easing crude oil prices and positive trend in the Indian share market supported the local currency.

At the interbank forex market, the domestic currency opened weak at 74.21 against the US dollar. During trading, it further inched down and reached at 74.25 against the American currency, registering a fall of 10 paise. The Indian rupee is at 20.23 against the UAE dirham. On Friday, the rupee had settled at 74.15 against the US dollar.

Also Read: Commodity Market: Gold prices continue to skid 

The dollar index, which measures the US currency’s strength against a basket of six currencies is higher by 0.01% at 92.80. Meanwhile, foreign institutional investors were net sellers in the share market as they offloaded shares worth Rs 69.37 crore.

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