Mumbai: The Indian rupee declined against the US dollar in the forex market. According to the market experts, the negative trend in the Indian equity market and strengthening of the US dollar has weighed upon the domestic currency.
In the Interbank foreign exchange, the local currency opened at 76.58 against the US dollar. During trading it reached to 76.65, lower by 23 paise. On Friday, the rupee had declined by 25 paise to close at 76.42 per dollar. Foreign investors withdrew 12,300 crores from Indian equities this month.
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The dollar index, which measures the US currency’s performance against six other currencies edged higher to 101.08. It touched a two-year high of 101.33 on Friday.
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