In the forex market the domestic currency, the Indian rupee has slipped down against the US dollar.
As per the forex traders the strengthening of the US dollar against other currencies is the cause of the downfall of Indian rupee. But the easing crude oil prices, positive opening in the Indian share market and sustained foreign fund inflows has supported the Indian rupee.
At the Interbank Foreign Exchange, the Indian rupee opened at 71.29 and then slipped down to 71.33 against the US dollar lowering by 2 paise. The Indian rupee has settled down against the US dollar at 71.31 on Thursday.
The ‘Dollar Index’, which measures the US currency’s strength against a basket of six currencies has surged by 0.08% to 99.14.
Post Your Comments