The rupee depreciated 8 paise to 73.21 against the US dollar in opening trade on Monday even as the domestic equity market was trading with significant gains.
The Indian currency opened at 73.16 at the interbank forex market then lost ground and touched 73.21 against the US dollar, down 8 paise over its last close of 73.13.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.12 per cent to 93.72.
On the domestic equity market front, the BSE benchmark Sensex surged 400.32 points to 39,097.37, and the broader NSE Nifty rose 115.45 points to 11,532.40.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,632.25 crore on a net basis on Thursday, according to provisional exchange data.
Forex market was closed on Friday on account of Mahatma Gandhi Jayanti.
Brent crude futures, the global oil benchmark, rose 2.14 per cent to USD 40.11 per barrel.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.