Mumbai: The Indian currency slipped down against the US dollar in the forex market. The strengthening of the American currency in the overseas market and a negative trend in domestic equities weighed upon the Indian currency.
At the interbank foreign exchange, the domestic currency opened weak at 82.25 against the US dollar. It then fell to 82.29, registering a decline of 37 paise over its last close. On Tuesday, the Indian rupee settled at 81.92 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, rose 0.18% to 105.80. Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets as they purchased shares worth Rs 721.37 crore.
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