Mumbai: The Indian currency edged lower against the US dollar in forex market. The strengthening of the American currency in the overseas market and a muted trend in domestic equities weighed upon the local currency.
At the interbank foreign exchange, the domestic currency opened at 81.41 against the US dollar. During trading, it then lost ground to reach at 81.57, registering a loss of 66 paise over its previous close. On Tuesday, the Indian rupee appreciated 37 paise to close at 80.91 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, advanced 0.17% to 106.58. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets as they offloaded shares worth Rs 221.32 crore.
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