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Forex Market: Indian rupee slips down against US dollar

Mumbai:  The Indian currency slipped down against the US dollar in the forex market. The strengthening of the American currency, weak trend in domestic equities, sustained foreign fund outflows and risk aversion sentiment among investors weighed upon the local currency.

At the interbank foreign exchange, the domestic currency opened at 82.35 against the US dollar. During trading, it then reached at 82.41, registering a loss of just 1 paisa over its previous close. On Monday, the Indian rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar.

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.12% to 113.27. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 2,139.02 crore.

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