On Monday, the rupee fell for a third straight session, closing 10 paise lower at 76.29 against the US dollar.
On Monday, the rupee fell for a third straight session, closing 10 paise lower at 76.29 against the US dollar.
The rupee depreciated 6 paise to 76.35 against the US dollar at open April 19, weighed down by dollar strength and significant outflows of foreign funds.
On the interbank foreign exchange exchange, the rupee opened at 76.34 against the US dollar, then lost ground to trade at 76.35, down 6 paise from the last close.
On Monday, the rupee fell for a third straight session, closing 10 paise lower at 76.29 against the US dollar.
The Dollar Index, which measures the dollar’s strength against a basket of six currencies, traded 0.14% higher to 100.92.
The Indian rupee opened weak and is expected to weaken against the U.S. currency this Tuesday as the Federal Reserve’s interest rate outlook pushed the dollar index to its highest levels since March 2020, said Sriram Iyer, a senior research analyst at Reliance Securities.
Meanwhile, crude oil remained strong while most Asian and emerging-market peers started weaker and could weigh on sentiment, Mr Iyer said.
However, further depreciation could be limited as the RBI could be present to curb volatility, Mr Iyer added.
On the domestic stockmarket front, the 30-piece Sensex was down 57.03 points, or 0.10%, to 57,109.71, while the broader NSE Nifty was down 3.65 points, or 0.20%, to 17,170.00.
Global oil benchmark Brent crude futures were up 0.51% to $113.74 a barrel.
Foreign institutional investors were net sellers in the capital market on Monday, selling ₹6,387.45 crore of shares, according to stock market data.
