In the forex market the domestic currency Indian rupee has slipped down against the US dollar in the early hours of trading. The Indian rupee has slipped by 68 paise against US dollar to reach at 71.60. The main reason for the downfall of Indian currency as per market experts is the drone attack targeted at Saudi oil refinery.
In the Interbank Foreign Exchange the Indian rupee opened at 71.54 and then slipped by 68 paise to reach at 71.60 against the US currency. On Friday the Indian rupee has settled trading at 70.92 against the US dollar.
Dollar Index, the meter that gauges the US currency’s strength against a basket of six currencies has also slipped by 0.09% to reach at 98.17.
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