Mumbai: The Indian rupee slipped down against the US dollar in the forex market. As per market experts, the rising crude oil prices and strengthening of US dollar has weighed upon the Indian rupee.
At the Interbank foreign exchange, the Indian currency opened at 74.60 against the dollar. During trading it slipped to 74.70, registering a fall of 15 paise over its previous close. On Tuesday, the Indian rupee had settled at 74.55 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was down 0.03% to reach at 92.52. In the Indian share market, the foreign institutional investors were net sellers and they offloaded shares worth Rs 543.30 crore.
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