MumbaI; The Indian rupee edged lower against the US dollar in the forex market. The strengthening of the US dollar and the muted trend in the Indian share market has weighed upon the Indian currency.
At the interbank foreign exchange, the domestic currency rupee opened at 73.63 against the dollar. During trading, it slipped to 73.68, registering a decline of 18 paise from the last close. On Thursday, the Indian rupee had settled at 73.50 against the US dollar. The forex market was closed on Friday on account of ‘Ganesh Chaturthi’.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.09% to 92.66. Foreign institutional investors were net buyers in the Indian share market as they purchased shares worth Rs 423.44 crore, as per exchange data.