Mumbai: The Indian rupee ended lower against the US dollar in the forex market. The strengthening of the US dollar and rising crude oil priced weighed upon the local currency. As per the market experts, the concern over the US Federal Reserve meeting influenced investors.
At the interbank foreign exchange, the Indian rupee opened at 79.83 against the US dollar. It then fell to 79.88 against the American currency during trading. The local currency settled at 79.90, , registering a decline of 12 paise over the last close. On Tuesday, the Indian rupee had settled at 79.78 against the American currency.
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The dollar index, which measures the US currency’s strength against a basket of six currencies, fell 0.16% at 107.02. Foreign institutional investors remained net sellers in the capital market as they offloaded shares worth Rs 1,548.29 crore.
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