Mumbai: The Indian rupee edged lower against the US dollar in the forex market. As per market experts, the muted opening of the share market, sustained foreign fund outflows and elevated crude oil prices weighed on the domestic currency.
At the interbank foreign exchange, the Indian rupee opened at 75.40 against the US dollar. During trading it then slipped to 75.46, registering a decline of 31 paise from the last close. On Thursday, the rupee had settled at 75.15 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose by 0.45% to 95.98. Foreign institutional investors remained net sellers in the Indian share market as they offloaded shares worth Rs 1,732.58 crore.
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