In the forex market, the domestic currency Indian rupee has slipped down against the US dollar in the early hours of trade. The Indian rupee was trading at 69.32 against the US dollar lowering around 17 paise. The main reason for the downfall of the Indian rupee is the strengthening of the US currency in the global market.
In the Interbank forex market, the domestic currency opened at 69.29 and it then slipped down to 69.32. The Indian rupee settled trading on Wednesday at 69.15 against the US dollar.
Meanwhile, the dollar index, which measures the US dollar’s strength against the basket of six currencies rose 0.13% to 96.34.
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