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Forex market: Indian rupee slips against US dollar

In the forex market the domestic currency Indian rupee has slipped against the US dollar. As per market experts the rising crude oil price and muted opening of Indian share market has weighed upon the domestic currency.

At the Interbank Foreign Exchange the Indian rupee opened at 71.22 and then slipped down to 71.23 against the US dollar in the early hours of trading. The Indian rupee has slipped by 5 paise against the US dollar.

Indian Rupee
relief for Indian Rupee

On Monday the Indian rupee has settled trading at 71.18 against the Us dollar.

The ‘Dollar Index’ that measures the strength of US dollar against a basket of six currencies has slipped down by 0.03 to 97.68.

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