In the Forex market, the domestic currency Indian rupee has slipped down against the US dollar and UAE Dirham. The Indian rupee depreciated 6 paise to 75.60 against the US dollar in opening trade on Tuesday.
As per the market experts, the strengthening of US dollar and sustained rise in crude oil prices weighed upon the Indian rupee,although the positive opening of domestic equities supported the rupee.
The rupee opened weak at 75.57 at the interbank Forex market and then fell further to 75.60, down 6 paise over its last close. Indian rupee had settled at 75.54 against the US dollar on Monday.
The ‘Dollar index’, which gauges the greenback’s strength against a basket of six currencies, rose by 0.03% to 97.86.
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