Mumbai: The Indian rupee declined against the US dollar in the forex market. The strengthening of the US currency in the global markets and negative trend in the Indian equity market weighed upon the local currency.
At the interbank foreign exchange, the Indian rupee opened lower at 75.50 against the US dollar. During trading it then slipped down to 75.58, registering a decline of 29 paise over its previous close. It is trading at 20.59 against the UAE dirham. On Tuesday, the domestic currency rose for the third straight session and settled at 75.29 against the US dollar, up by 24 paise.
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The dollar index, which measures American Dollar’s strength against a basket of six currencies, surged 0.12% to 99.59.
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