In the forex market, the domestic currency Indian rupee has slipped down. In the early hours of trading, the domestic currency has settled at 71.30 against the US dollar registering a loss of 49 paise.
At the Interbank Foreign Exchange, today the Indian rupee opened weak at 71.15. The Indian rupee has closed trading at 70.78 against the US dollar on Friday.
The ‘Dollar Index’, which measures the US currency’s strength against a basket of six currencies rose today by 0.23% to 97.60.
The main reason for the downfall of Indian rupee was the strengthening of the US dollar and the weak performance of the Indian share market.
Post Your Comments