The rupee is down 18 paise to 76.62 in early trade against the US dollar

The rupee opened weak at 76.63 against the US dollar

The rupee opened weak at 76.63 against the US dollar

The rupee fell 18 paise against the US dollar to 76.62 on Monday as rising geopolitical risks stemming from the Russia-Ukraine conflict pushed investors toward safe havens.

Unabated foreign capital outflows and a strong US currency abroad weighed on investor sentiment, forex traders said.

However, higher domestic stocks supported the local currency and limited the loss, they added.

On the interbank foreign exchange exchange, the rupee opened weak at 76.63 against the US dollar. It later edged up to 76.62, posting a 18-paise drop from the last close.

On Friday, the rupee was little changed against the US dollar at 76.44.

Meanwhile, the dollar index, which measures the dollar’s strength against a basket of six currencies, rose 0.07% to 99.25.

Meanwhile, global oil benchmark Brent crude futures slipped 1.91% to $110.52 a barrel.

On the domestic stockmarket front, the 30-track Sensex traded 209.01 points, or 0.38%, higher to 55,759.31, while the broader NSE Nifty was up 32.30 points, or 0.19%, to 16,662.75.

The Russian invasion extended to Yavoriv on Sunday, which has long been used to train Ukrainian soldiers. Officials were due to resume talks on Monday, according to the Russian state news agency mug.

Foreign institutional investors remained net sellers in the capital market on Friday, selling ₹2,263.90 crore of shares, according to stock market data.

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