Mumbai: The Indian rupee slipped down against the US dollar and UAE dirham. The firm US dollar and massive sell-off in Indian share market has weighed upon the Indian rupee.
At the interbank foreign exchange, the Indian rupee opened weak at 74.36. During trading it reached at 74.35 against the US dollar, lower by 5 paise. The Indian rupee is trading at 20.25 against the UAE dirham. On Thursday, the Indian currency had closed at 74.30 against the US dollar. Markets were closed on Friday on the occasion of Guru Nanak Jayanti.
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The dollar index, which measures the US currency’s strength against a basket of six currencies, gained 0.10% to 96.12. Foreign institutional investors were net sellers in the Indian share market, as they offloaded shares worth Rs 3,930.62 crore.
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