Mumbai: The Indian rupee depreciated against the US dollar in the forex market. As per the market experts, the sustained foreign fund outflows has weighed upon the Indian rupee.
At the interbank foreign exchange, the India rupee opened weak at 74.27 against the dollar. During trading it slipped further and reached at 74.28, lower by 3 paise. On Thursday, the Indian rupee settled at 74.25 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.07% to 92.97. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 212.11 crore.
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