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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 andrising crude oil prices have weighed down the Indian currency.

At the interbank foreign exchange, the rupee opened on a weak note at 75.02, registering a decline of 6 paise from the last close. On Tuesday, the Indian rupee had settled at 74.96 against the US dollar.

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The dollar index, which measures the US currency’s strength against a basket of six currencies, fell marginally by 0.06% to 93.88. The foreign institutional investors were net sellers in the Indian share capital market as they offloaded shares worth Rs 2,368.66 crore.


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