Mumbai: The Indian rupee declined against the US dollar in the forex market. The sustained foreign fund outflows and the strengthening of the US dollar weighed upon the domestic currency.
At the interbank foreign exchange, the Indian rupee opened at 76.69 against the American dollar. It then lost ground to reach at 76.72, registering a fall of 16 paise from the last close. On Tuesday, the Indian rupee settled at 76.56 against the dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.05% higher at 102.34. Foreign institutional investors were net sellers in the Indian share market , as they offloaded shares worth Rs 1,174.05 crore.
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