Mumbai: The Indian rupee depreciated against the US dollar and UAE dirham in the forex market. The muted opening of the Indian share market has weighed upon the Indian rupee.
At the interbank foreign exchange, the domestic currency opened at 74.28. During trading the Indian currency then slipped to 74.36 against the dollar, registering a decline of 22 paise from the last close. On Wednesday, the Indian currency settled at 74.14 against the US dollar. The Indian rupee is at 20.26 against the UAE dirham.
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The dollar index, which measures the American currency’s strength against a basket of six currencies, fell 0.05% to 94.29. Foreign institutional investors were net sellers in the Indian share market as they offloaded shares worth Rs 1,896.02 crore.
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