in the forex market, the domestic currency Indian rupee has slipped down against the US dollar in the early hours of trade. The Indian rupee opened 24 paise down at 71.36 against the US dollar.
At the Interbank Foreign Exchange the Indian rupee opened at 71.36 and then rallied between 71.15 and 71.37. The Indian rupee has settled trading at 71.24 against the US dollar on yesterday.
The Dollar Index that measures the strength of US currency against the basket of six currency ahs fell by 0.09% to 98.47.
As per the market experts the reason for the downfall of Indian rupee is the cautious opening of Indian share market and the foreign fund outflow.
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