Rupee Slips 6 Paise to 74.84 against US Dollar in Early Trade Tracking Negative Domestic Equities

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.28 per cent to 93.89.

Forex traders said strong dollar, muted domestic equities and weak Index of Industrial Production (IIP) data weighed on investor sentiment.

India’s industrial production declined 16.6 per cent in June on account of disruption in normal business activity following the outbreak of coronavirus pandemic.

The decline in factory output was widespread across the sectors, including manufacturing, mining, power generation, capital goods and consumer durables, as per the data released by the Ministry of Statistics and Programme Implementation.