Mumbai: The Indian currency depreciated against the US dollar and UAE dirham in the forex market. The strengthening of the US dollar in the international market has affected the Indian rupee.
At the interbank foreign exchange, the rupee opened on a weak note at 74.53. During trading it then inched down to 74.54 against the dollar, registering a decline of 12 paise over its previous close. The Indian rupee is trading at 20.31 against the UAE dirham. The Indian currency settled flat at 74.42 on Tuesday.
Also Read: Apple sues Pegasus spyware makers
The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose by 0.06% to 96.55. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 4,477.06 crore.