Mumbai: The Indian rupee depreciated against the American currency in early trade on Tuesday. As per forex traders, the muted trend in domestic equities and foreign fund outflows weighed upon the Indian currency.
At the interbank foreign exchange, the domestic currency opened at 85.47 and fell to 85.55 against the US dollar, registering a loss of 13 paise over its previous close. On Monday, the rupee appreciated 15 paise to settle at 85.42 against the US dollar.
Also Read: Commodity Market: Gold price slips down marginally
Meanwhile, the dollar index, which gauges the USd olar’s strength against a basket of six currencies, was trading lower by 0.06 per cent at 100.36. Foreign institutional investors (FIIs) offloaded equities worth Rs 525.95 crore on a net basis on Monday.
Post Your Comments