Mumbai: The Indian rupee slipped down against the US dollar in the forex market. The rising crude oil prices, hawkish comments by US Federal Reserve officials and muted opening of the Indian equity market has weighed upon the domestic currency.
At the interbank foreign exchange, the Indian rupee opened weak at 74.05 against the US dollar. it then fell further to 74.09 against the US currency, registering a decline of 19 paise from the last close. On Thursday, the Indian rupee rose 3 paise to close at 73.90 against the US dollar.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell by 0.11% to 94.68. Foreign institutional investors remained net sellers in the Indian share market, as they offloaded shares worth Rs 1,390.85 crore.