Rupee falls 3 paise to 81

Rupee falls 3 paise to 81.93 against US dollar

The rupee depreciated by 3 paise to close at 81.93 against the US dollar on Monday amid strong American currency against major rivals overseas.

However, the inflow of foreign funds into local equities and a downward trend in crude price capped the fall in the domestic unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened lower at 81.93 and moved in the range of 82.01 to 81.90 during intra-day.

The unit settled at 81.93 (provisional) against the US dollar, reflecting a loss of 3 paise over the previous close.

On Friday, the rupee settled at 81.90 against the dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was up 0.29 per cent at 102.54.

Crude oil prices were trading lower, with the benchmark Brent crude slipping 0.16 per cent to USD 76.49 per barrel.

In the domestic equity market, the 30-share BSE Sensex declined 216.28 points or 0.34 per cent to settle at 63,168.30, while broader NSE Nifty fell 70.55 points or 0.37 per cent to close at 18,755.45.

Also read: USDINR outlook remains bearish following formation of lower tops, bottoms; support at 81.50, resistance at 82.30

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 794.78 crore, according to exchange data.