India, June 24 -- The Indian rupee slipped by 10 paise to trade at 94.86 against the US dollar in early trading on Wednesday, as continued strength in the US currency weighed on the domestic unit.
The rupee opened at 94.88 in the interbank foreign exchange market and later recovered slightly to 94.86, compared to its previous closing level.
According to forex market participants, the dollar's strength exerted pressure on the rupee. However, a sharp decline in global crude oil prices and sustained foreign institutional investor (FII) inflows helped limit the currency's losses and prevented a steeper fall.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....