Forex traders said sustained foreign fund outflows and elevated crude oil prices too weakened the rupee position.
Forex traders said muted domestic equities and elevated crude oil prices weighed on the local unit.
Rupee weakened further on Friday and closed below the 75/dollar mark for the first time in 2022 after US January inflation accelerated to 40 years high
Forex traders said muted domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed on the local unit.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent lower at 95.53.
However, the surge in the rupee was restricted amid elevated crude oil prices and muted domestic equities.
The country's foreign exchange reserves fell sharply during the week ended January 28, 2022 due to revaluation among foreign currency assets.
The country's foreign exchange reserves declined by $4.531 billion to stand at $629.755 billion in the week ended January 28, RBI data showed
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.10 per cent to 96.03.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent lower at 96.26.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 96.59.
A sharp rise in oil import bill has led to a big decline in forex reserves to imports in FY22
Forex traders said muted domestic equities, sustained foreign fund outflows and firm crude oil prices also weighed on the local unit
Forex traders said geopolitical tensions, sustained foreign fund outflows and elevated crude oil prices also dragged down the local unit
Forex traders said the Indian rupee is trading in a narrow range ahead of the US Federal Reserve meeting later this week.
The rupee appreciated by 15 paise to 74.29 against the US dollar in opening trade on Thursday, even as the domestic equity market was trading with significant losses.
The rupee declined by 12 paise to 74.70 against the US dollar in opening trade on Wednesday, as muted domestic equities and elevated crude oil prices weighed on investor sentiments.
The rupee fell 9 paise to close at 74.24 (provisional) against the US dollar as muted domestic equities and elevated crude oil prices weighed on investor sentiments
The Indian rupee was trading in a narrow range in morning trade on Monday as elevated crude oil prices negated the impact of positive domestic equities.
The rupee declined by 19 paise to 74.09 against the US dollar in opening trade on Friday, as muted domestic equities and elevated crude oil prices weighed on investor sentiments