Mumbai: The Indian rupee declined against the US dollar and UAE dirham in the forex market. The strengthening of the American currency in the global markets and weakening of the other Asian currencies weighed upon the domestic currency.
At the interbank foreign exchange, the Indian currency opened at 74.16 against the dollar. During trading it then slipped to 74.17, lower by 5 paise against it’s previous close. On Friday, the Indian rupee had settled at 74.12 against the US dollar. The Indian currency is at 20.20 against the UAE dirham.
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The US dollar index, which measures the US currency’s strength against a basket of six currencies, was up by 0.02% at 94.05. Foreign institutional investors were net buyers in the Indian share market as they purchased shares worth Rs 131.39 crore.
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