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Forex Market: Indian rupee slips against US dollar

Mumbai: The Indian rupee slipped down against the US dollar in the forex market. The strengthening of the US dollar and muted opening of the Indian share market weighed upon the Indian currency.

At the interbank foreign exchange, the local currency opened at 73.77 against the dollar. Then it slipped to 73.85, registering a decline of 25 paise from the last close. On Wednesday, the domestic currency settled at 73.60 against the US dollar.

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The dollar index, which measures the US currency’s strength against a basket of six currencies, rose 0.08% to 92.72.Foreign institutional investors were net sellers in the Indian share market as they sold shares worth Rs 802.51 crore.


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