Mumbai: The Indian rupee slipped down against the US dollar and UAE dirham in the forex market. The strengthening of the US dollar and negative opening of the Indian equity market weighed upon the domestic currency.
At the interbank foreign exchange market, the Indian rupee opened at 79.55 against the US dollar. During trading, it fell to 79.66, registering a decline of 14 paise over its last close. The local currency is trading at 21.70 against the UAE dirham. The Indian forex markets were closed on Wednesday due to Ganesh Chaturthi.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.28% to 109. Foreign institutional investors turned net buyers in the Indian capital market.
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