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Forex Market: Indian rupee slips down against US dollar, UAE dirham

Mumbai: The Indian rupee depreciated against the US dollar and UAE dirhams in the forex market. The rising crude oil prices and the muted trend in the Indian equities influenced the investors.

At the interbank foreign exchange, the Indian rupee opened weak at 81.65 against the US  dollar. During trading, it  then lost further ground to reach at 81.78, registering a loss of 38 paise over its previous close. The local currency settled 33 paise higher at 81.40 against the dollar on Friday. The domestic currency is trading at 22.28 against the UAE dirham.

Also Read; Factory growth weakens to 3-month low in India 

The dollar index, which measures the US dollar’s strength against a basket of six currencies, slipped 0.04% to 112.08. The  foreign investors turned sellers again in the Indian equity market and withdrew out Rs 76 billion from the Indian equity markets.


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