Mumbai: The Indian rupee edged lower in the forex market. The rising crude oil prices due to the Russia-Ukraine war has weighed upon the domestic currency.
At the interbank forex market, the rupee opened lower against the American currency at 75.33, registering a loss of 40 paise over its previous close. Indian rupee had gained 27 paise to settle at 75.33 against the US dollar on Friday. The Indian currency is trading at 20.52 against the UAE dirham.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, is trading 0.78% higher at 97.37. Meanwhile, the foreign portfolio investors (FPIs) remained net sellers in the Indian equity market and pulled out Rs 35,506 crore from the Indian capital markets so far in February.