In the forex market the domestic currency Indian rupee has slipped against the US dollar.
As per the market experts the weak opening of Indian share market and the strengthening of US dollar against other currencies were the cause of downward rally of Indian rupee. But the easing crude oil prices and sustained foreign fund inflows has supported Indian rupee and it restricted the downfall of the local currency.
At the Interbank Foreign Exchange the Indian rupee opened at 71.51 and then settled at 71.44 against the US dollar registering a loss of 11 paise. Indian rupee has settled trading at 71.33 against the US dollar on Friday.
The ‘Dollar Index’ which measures the US currency’s strength against a basket of six currencies has rose by 0.02% to 97.87.
Post Your Comments