In the forex market the domestic currency Indian rupee has slipped down against the US dollar in the early hours of trading.
As per market experts the cautious opening in the Indian share market weighed upon the Indian rupee. But the sustained foreign fund inflow and weakening of the US dollar against other currencies has supported Indian rupee.
At the Interbank Foreign Exchange the Indian rupee opened at 71.01 and then slipped down to 71.02 registering a loss of 5 paise against the US dollar.
The Indian rupee has settled trading against US dollar on Wednesday at 70.97.
The ‘Dollar Index’ which measures the strength of US dollar against a basket of six currencies has also slipped by 0.07% to 97.33.
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