in the forex market, the domestic currency Indian rupee has slipped down against the Us dollar on today. The Indian rupee has fell down by 16 paise to reach at 68.58 against the US dollar.
In the Interbank foreign exchange, the Indian rupee opened at 68.49 and slipped down to 68.58 showing a loss of 16 paise against the US dollar. On Friday the Indian rupee settled trading at 68.42 showing a gain of 8 paise.
As per the market experts, the downward rally of Indian rupee was due to the outflow of foreign funds and the heavy selling in Indian stock market. But the pace of the downward movement was controlled by the weakening of the US dollar in the international market and the easing crude oil price.
The dollar index, which gauges the Dollar’s strength against a basket of six currencies slipped down by 0.07% to reach at 97.21.
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