The domestic currency, the Indian rupee has slipped down against the US dollar in the forex market. As per market experts, the strengthening of US dollar, and expectations about the US President election has weighed upon the Indian rupee.
At the Interbank forex market, the Indian rupee opened at 74.74 against the US dollar, down by 33 paise. The Indian rupee had settled trading at 74.41 against the US dollar on Tuesday. The Indian rupee is at 20.34 against the UAE dirham.
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The dollar index, which measures the US dollar’s strength a basket of six currencies, rose 0.32% to 93.85. The foreign institutional investors had purchased shares worth Rs 2,274.40 crore on a net basis.
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