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Forex Market: Indian rupee slips down against US dollar

Mumbai: The Indian currency edged lower against the US dollar in the forex market. Strengthening of the US currency and muted trend in the Indian share markets weighed upon the local currency. But, the sustained foreign fund inflows  and easing down of crude oil prices restricted the Indian rupee’s fall.

At the interbank foreign exchange, the domestic currency opened weak at 81.81 against the US dollar. During trading, it then gained some ground to reach at  81.77, registering a decline of 6 paise over its previous close. It settled at 81.67  against the US dollar. On Friday, the Indian rupee weakened by 1 paisa to end at 81.71 against the US dollar.

Also Read: Commodity Market: Gold price remain unchanged for fourth day in a row 

The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.41% to 106.39. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets as they bought shares worth Rs 369.08 crore.


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