
-
ALSO READ
What are the implications of Rupee staying beyond 80?
Rupee loses 10% vs USD over a year, FX reserves fall to near 2-yr low
Rupee faces risk of further decline against dollar in near term: Experts
Rupee depreciates 40 paise to all-time low of 81.93 against US dollar
Bearish bets on Asian FX stay firm on towering dollar, slowdown fears: Poll
-
The rupee fell 21 paise to close as 81.38 (provisional) against the US dollar on Monday amid rise in crude prices.
However, strong sentiment at domestic equities market and a weak dollar restricted the fall of the local currency, forex traders said.
At the interbank foreign exchange market, the rupee opened stronger at 80.92 to a dollar against the previous close of 81.17. The local unit moved in a range of 81.47 to 80.93 during the day.
On Friday, the rupee had appreciated by 19 paise to close at 81.17 against the US dollar.
Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.35 per cent to 101.66 amid concerns over US economic growth.
The Brent crude rose 0.26 per cent to USD 87.86 per barrel.
On the domestic equity market front, the 30-share BSE Sensex rose by 319.90 points or 0.53 per cent to 60,941.67, while the broader NSE Nifty gained 90.90 points or 0.5 per cent to settle at 18,118.55.
Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they sold shares worth Rs 2,002.25 crore, according to exchange data.
(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.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.
Download the Business Standard App for latest Business News and Market News .
First Published: Mon, January 23 2023. 16:50 IST
RECOMMENDED FOR YOU