Mumbai: The Indian rupee declined against the US dollar in the forex market. The muted trend in the Indian share market, concerns over the Omicron variant of Covid-19, rising crude oil price and sustained foreign fund outflows weighed upon the local currency.
At the interbank foreign exchange, the Indian rupee opened at 76.23 against the US dollar, lower by 14 paise from the last close. On Thursday, the domestic currency settled at 76.09 against the American currency.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell by 0.07% to 95.97. Foreign institutional investors remained net sellers in the Indian equity market as they offloaded shares worth Rs 1,468.71 crore.