In the forex market, the domestic currency Indian rupee has slipped against the US dollar in the early hours of trading.
As per the market experts, the weak opening Indian rupee was due to the foreign fund outflow and the weak opening of Indian share market. But the easing crude oil price and the weakening of US dollar against other currencies helped the Indian rupee from big loss.
At the Interbank Foreign Exchange, the Indian rupee opened at 71.20 and slipped to 71.22 against the US dollar lowering by 20 paise. Indian rupee has settled trading at 71.02 against US dollar on Monday.
The ‘Dollar Index’, the measure which gauges the US currency’s strength against a basket of six currencies fell by 0.04% to 99.09.
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