A firm sentiment in the domestic equity market and a weak dollar capped the rupee’s losses. (file)
Mumbai:
The rupee depreciated 21 paise to close at 81.38 (provisional) against the US dollar on Monday amid a rise in crude oil prices.
Forex traders, however, said a strong sentiment in the domestic equity market and a weak dollar capped the local currency’s losses.
At the interbank foreign exchange market, the rupee opened at 80.92 against the previous closing price of 81.17. The local unit moved in a range of 81.47 to 80.93 during the day.
On Friday, the rupee had gained 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.
Brent crude rose 0.26 per cent to $87.86 a barrel.
On the domestic equity market front, the 30-share BSE Sensex advanced 319.90 points, or 0.53 per cent, to 60,941.67, while the broader NSE Nifty advanced 90.90 points, or 0.5 per cent, to 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.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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