Mumbai: Indian rupee depreciated against the US dollar in the forex market. According to market experts, the rising inflation and strengthening of the US dollar weighed upon the local currency.
At the interbank foreign exchange market, the Indian rupee opened at 79.63 against the US Currency and then fell to 79.70, registering a decline of 14 paise over its last close. On Thursday, the Indian rupee declined by 4 paise to close at 79.56 against the dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.12% to 109.55. Foreign institutional investors turned net sellers in the Indian capital market as they offloaded shares worth Rs 2,290.31 crore.
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