In the forex market, the domestic currency Indian rupee has slipped down against the US currency US Dollar. In the early hours of trading the Indian rupee slipped down by 28 paise to reach at 71.88 against the US dollar.
At the Interbank Foreign Exchange the domestic currency opened at 71.83 anf then slipped down to 71.88 against the US dollar registering a loss of 28 paise. Indian rupee has settled trading against the US dollar on Monday at 71.60.
The ‘Dollar Index’ which measures the US dollar’s strength against a basket of six currency has rose by 0.01% to 98.61.
As per the market experts the reason for the downfall of Indian rupee is the strengthening of US dollar and other currencies.
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