Mumbai: The Indian rupee edged lower against the US dollar in the forex market. The strengthening of the US currency in the overseas market and a negative trend in domestic equities weighed upon the Indian rupee.
At the interbank foreign exchange, the domestic currency opened lower at 76.05 against the US dollar, registering a decline of 14 paise over its previous close. On Monday, the Indian rupee rose marginally to 75.91 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, surged 0.07% to 99.99. Foreign institutional investors remained net sellers in the Indian share market as they offloaded shares worth Rs 1,145.24 crore.
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