In the forex market, the domestic currency Indian rupee has slipped by 12 paise to reach at 70.93 against the US dollar in the early hours of trade.
At the Interbank Foreign Exchange market, the domestic currency Indian rupee today opened weak at 70.92 against the Us dollar and then slipped to 70.93 registering a loss of 12 paise against the US currency. On yesterday, the Indian rupee has settled trading at 70.81 against the US dollar.
The reason behind the weakening of Indian rupee as per market experts is the foreign fund outflow, the weak performance of the Indian stock market and the RBI’s monetary policy review outcome.
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