In the forex market, the domestic currency Indian rupee today slipped down against the US dollar. In the early hours of trading, the Indian rupee slipped down by 18 paise to reach at 68.84 against the US dollar.
In the Interbank forex market, the Indian rupee today opened weak at 69.65 paise against the US dollar and it then again falls down to reach 68.84 against the US dollar showing a fall of 18 paise. Yesterday the Indian rupee settled trading at 68.66 against the US dollar.
The Dollar Index, which measures the US dollar’s strength against a basket of six currencies has risen by 0.03% to reach 97.41.
As per the market experts, the downward rally of Indian rupee was due to the strong demand from the part of importers and banks for the US dollar and the outflow of foreign funds. But the easing of crude oil prices braked the pace of downfall of the Indian rupee.
Post Your Comments