In the Forex market, the domestic currency Indian rupee has declined sharply against the US dollar. As the Covid-19 pandemic has hit worstly all markets globally, the Indian rupee has slipped down against the US dollar in the early hours of trading.As per market experts the negative trend in the global markets has affected Indian rupee.
At the Interbank Forex Exchange, the Indian rupee opened weak at 75.17 and then fell further to 75.21, down 32 paise against US dollar over its last close. The rupee had settled trading at 74.89 against the US dollar on Friday.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose by 0.34% to 98.69.
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