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Forex Market: Indian rupee inches lower against US dollar

Mumbai: The Indian rupee edged lower against the US dollar. The sustained foreign fund outflows and strong dollar demand globally weighed on the local currency.

At the interbank foreign exchange, the Indian rupee opened at 78 against the American dollar. During trading, it reached  at 78.04, registering a fall of 6 paise over the last close. On Monday, the Indian rupee appreciated 7 paise to settle at 77.98.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.36% lower at 104.32. Foreign institutional investors were net sellers in the Indian equity market as they offloaded shares worth Rs 1,217.12 crore.


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