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Forex Market: Indian rupee slips against US dollar

Mumbai: The Indian rupee depreciated against the US dollar and the UAE dirham. As per market experts, sustained  foreign fund outflows and a muted trend in the Indian equities weighed upon the Indian currency.

At the interbank foreign exchange, the Indian rupee opened weak at 81.61 against the US dollar. During trading ,  it then fell to 81.64, registering a decline of 12 paise over its last close. The Indian rupee is trading at 22.24 against the UAE dirham. On Monday, the Indian rupee settled at 81.52 against the American currency.

Also Read: Indian Railways cancels 406 trains today: Full list 

Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.04% to 102.23. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 67.9 billion.




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