Mumbai: The Indian currency edged lower against the American dollar in the forex market. The strengthening of the US dollar and negative trend in domestic equities weighed upon the local currency.
At the interbank foreign exchange market, the Indian rupee opened at 79.80 against the US dollar, then fell to 79.82, registering a decline of 11 paise over its last close. On Thursday, the Indian rupee declined by 19 paise to close at 79.71 against the dollar.
Also Read; Stock Market: Equity indices end lower for third day in a row
The dollar index, which measures the US currency’s strength against a basket of six currencies, fell 0.01% to 109.72. Foreign institutional investors were net sellers in the Indian capital market as they offloaded shares worth Rs1,270.68 crore.
Post Your Comments