In the Forex market, the domestic currency Indian rupee has slipped down against the UAE dirham. As per the market experts, the uncertainty over the Covid-19 pandemic and the negative trend in the Indian share market has has weighed upon the local currency.
At the Interbank Foreign Exchange, the Indian rupee opened weak at 75.97 and then slipped to 76.08 against US dollar losing 48 paise over its last closing. The rupee had settled at 75.60 against the US dollar on Tuesday.The Indian rupee has slipped against UAE dirham and is trading at 20.73 against UAE dirham.
Forex markets in India were closed on April 1 for the annual closing of banks and on April 2 on account of Ram Navami.
The ‘Dollar Index’, which measures the US currency’s strength against a basket of six currencies, rose by 0.03 per cent to 100.20.
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