In the forex market the domestic currency Indian rupee has slipped down against the US dollar.
As per the market experts the weak opening of Indian equity market and sustained foreign fund outflows has weighed upon the Indian rupee. Also the weakening of most of Asian currencies also increased the downfall of Indian rupee. but the easing crude oil prices has supported Indian rupee form greater loss.
At the Interbank Foreign Exchange the Indian rupee opened weak at 71.39 and then slipped down to 71.47 lower by 19 paise against the US dollar.
The Indian rupee has settled trading against US dollar at 71.27 on Wednesday.
The ‘Dollar Index’, which measures the US currency’s strength against a basket of six currencies has surged by 0.04% to 98.03.
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