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Forex Market: Indian rupee falls against US dollar, UAE Dirham

Mumbai: The Indian rupee depreciated against the US dollar and the UAE dirham in early trade on Tuesday. Strengthening of the US currency against major overseas rivals,  sustained outflow of foreign funds from domestic capital markets and subdued equity market sentiment weighed upon the Indian currency.

At the interbank foreign exchange, the domestic currency opened at 82.90 and slipped further to trade at 82.92 against the US dollar, registering a loss of 2 paise from its previous close. The Indian rupee is trading at 22.59 against the UAE dirham. On Monday, the Indian rupee settled 1 paise lower at 82.90 against the U.S. dollar.

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Meanwhile, the dollar index, which gauges the American dollar’s strength against a basket of six currencies, rose 0.03% to 103.81. Foreign institutional investors (FIIs) were net sellers in the Indian capital markets on Monday as they offloaded shares worth Rs 564.06 crore.

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