In the forex market, the domestic currency Indian rupee has slipped against US currency US dollar. Today in the early hours of trading the Indian rupee has slipped by 13 paise to reach at 71.84 against the US dollar.
The reason for the downfall of Indian rupee is the rising crude oil price and foreign fund outflow.
At the Interbank Foreign Exchange, the Indian rupee opened at 71.82 and then slipped down 71.84. The Indian rupee has settled against US dollar at 71.71 on Monday. The forex market was closed on Tuesday due to Muharram.
The Dollar Index, which measures the strength of US dollar against a basket of six currency has rose marginally by 0.01% to 98.33.
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