In the forex market, the domestic currency Indian rupee has weakened against the US dollar.
As per the market experts, the sustained foreign fund outflows, weak opening in the Indian share market and strengthening of US dollar against other currencies has weighed upon the Indian rupee. But the easing crude oil price has supported the Indian rupee from further falling.
At the Interbank Foreign Exchange, the Indian rupee opened weak at 71.45 and then again slipped to 71.47 registering a loss of 10 paise against the US dollar. On Friday, the Indian rupee has settled at 71.37 against the US dollar.
The ‘Dollar Index’, which gauges the US dollar’s strength against a basket of six currencies has slipped marginally by 0.01% to 99.11.
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