On Friday, the rupee fell 25 paise to close at 76.42 against the US currency
On Friday, the rupee fell 25 paise to close at 76.42 against the US currency
The rupee fell 23 paise to 76.65 against the US dollar in opening trade on Monday, following the dollar’s strength in the overseas market.
On the interbank forex exchange, the rupee opened muted at 76.58 against the US dollar, then fell to hit an early low of 76.65 on early trades, down 23 paise from its previous close.
On Friday, the rupee fell 25 paise to close at 76.42 against the US currency.
The rupee opened weaker against the US dollar, weighed down by hawkish comments from Federal Reserve Chair Jerome Powell last week, said Sriram Iyer, senior research analyst at Reliance Securities.
Most Asian and emerging market peers are trading weaker this Monday morning and could weigh on sentiment.
Meanwhile, global oil benchmark Brent crude futures fell 2.85% to $103.61 a barrel.
The dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.02% to 101.23.
In the domestic stock market, the 30-piece Sensex was down 645.45 points, or 1.13%, to 56,551.70, while the broader NSE Nifty was down 189.05 points, or 1.1%, to 16,982.90.
Foreign institutional investors remained net sellers in the capital market on Friday, selling 2,461.72 crore of shares, according to stock market data.
