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Forex Market: Indian rupee declines against US dollar

Mumbai: The Indian rupee  depreciated against the US dollar in the forex market. The sustained  foreign fund outflows from domestic capital markets weighed upon the local currency. However, a positive trend in equity markets and a weak dollar overseas capped the loss of the Indian currency.

At the interbank foreign exchange, the domestic currency opened weak at 82.63 against the US dollar, then lost further ground to 82.71, registering a decline of 20 paise over its previous close. On Monday, the Indian rupee fell 23 paise to end at 82.51 against the US dollar.

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The dollar index, which measures the US dollar’s strength against a basket of 6 currencies, fell 0.16% to 104.96.Foreign Institutional Investors (FIIs) remained net sellers in the Indian capital markets as they offloaded shares worth  Rs 138.81 crore.


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