The rupee dampened initial gains to remain little changed against the US dollar on Monday as subdued domestic stocks offset the impact of a sharp fall in global crude prices.
A strengthening of the US currency abroad and continued outflows of foreign funds also weighed on the domestic unit, forex traders said.
In the interbank FX market, the rupee opened slightly higher at 76.48 against the US dollar and continued to gain ground to trade at 76.35. It oscillated between a high of 76.35 and a low of 76.51 during the session.
The rupee eventually settled at 76.51 against the dollar, down marginally by 1 paisa.
Brent crude futures, the global oil benchmark, fell 2.61 percent to $104.34 a barrel.
In the domestic stock market, the 30-stock BSE Sensex ended 84.88 points, or 0.15 percent, lower at 56,975.99, while the broader NSE Nifty fell 33.45 points, or 0.20 percent, to 17,069.10.
Meanwhile, the dollar index, which measures the dollar’s strength against a basket of six currencies, rose 0.43 percent to 103.37.
Overseas institutional investors were net sellers in the capital market on Friday, selling ₹3,648.30 crore of shares, according to stock market data.
