Mumbai: The domestic currency slipped down against the US dollar in the forex market. The sustained foreign fund outflows weighed upon the Indian rupee.
At the interbank foreign exchange, the Indian rupee opened at 79.04 against the US dollar, registering a decline of 9 paise over the last close. On Monday, the Indian rupee had closed at 78.95 against the US dollar.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, was at 105.14. Foreign institutional investors remained net sellers in the Indian equity market as they offloaded shares worth Rs 2,149.56 crore.