The domestic currency, the Indian rupee has depreciated against the US dollar in the early hours of trading in forex market. The muted opening of Indian share market has weighed upon the Indian rupee.
At the interbank forex market, the Indian rupee opened lower by 10 paise at 73.22 against US dollar on Monday. On Friday, the Indian rupee settled trading at 73.12 against the US dollar.
However, India’s forex reserves continue to touch new life high at US dollar 586.082 billion. The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose by 0.06 per cent to 90.29.
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