Mumbai: The Indian rupee declined against the US dollar and UAE dirham in the forex market. As per market experts, the geopolitical tension, sustained foreign fund outflows and high oil prices and higher inflation in India weighed on investor sentiments.
At the interbank foreign exchange market, the Indian rupee opened at 75.60 against the US currency and then slipped further to 75.72, registering a decline of 12 paise from the last close. On Monday, the rupee slumped by 24 paise to close at an over nine-week low of 75.60 against the US currency.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.18% to 96.19.
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