Mumbai: The Indian rupee slipped down against the US dollar in the forex market. The weak opening of the Indian share market has weighed upon the Indian rupee.
At the interbank foreign exchange, the local currency opened at 74.38 against the dollar. During trading, it inched down and reached at 74.44, registering a fall of 20 paise over its previous close. On Wednesday, the rupee had settled at 74.24 against the US dollar. The forex market was closed on Thursday on account of ‘Muharram’.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading down 0.04% at 93.52. Foreign institutional investors were net sellers in the share market as they offloaded shares worth Rs 595.32 crore.
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