Mumbai: The Indian currency slipped down against the US dollar in the forex market. The strengthening of the US dollar and concern over a rate hike by the US Federal Reserve influenced investors.
At the Interbank foreign exchange the Indian currency opened at 81.81, 14 paise lower against the US dollar. On Tuesday, the local currency appreciated by 12 paise to close at 81.67 against the US dollar.
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The dollar index, which measures the US dollar’s performance against a basket of 6 currencies fell 0.06% to 107.16. Foreign Institutional Investors (FIIs) were net sellers in Indian capital markets as they offloaded shares worth Rs 697.83 crore.
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