UAE: Indian rupee falls to 20 versus dirham

• In the Indian interbank market, the rupee opened at 73.48 against the dollar, then fell to 73.65.

The Indian rupee plunged 23 paise to 73.65 against the US dollar (20.08 versus the UAE dirham) in opening trade on Wednesday, tracking a strong American currency and muted trend in the Indian equity markets. In the Indian interbank market, the rupee opened at 73.48 against the dollar, then fell to 73.65, registering a decline of 23 paise from the last close. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.02 per cent to 92.53. Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs145.45 crore, as per exchange data. On the Indian equity market front, the 30-share index was trading 0.85 points lower at 58,278.63. Similarly, the broader NSE Nifty was trading 1.75 points down at 17,360.35. (Source: Khaleej Times)