Mumbai: The Indian currency edged lower against the US dollar in the forex market. The concern over the trade deficit influenced investors.
At the interbank foreign exchange, the Indian rupee opened at 79.21 against the US dollar and then fell to 79.51, registering a decline of 36 paise over the last close. On Wednesday, the Indian slipped down by 62 paise to close at 79.15 against the dollar. It was the worst single-day fall of the local currency in current fiscal year.
The dollar index, which measures the US currency’s strength against a basket of six currencies, fell 0.08% to 106.41.Foreign institutional investors remained net buyers in the Indian capital market as they purchased shares worth Rs 765.17 crore.