The domestic unit opened lower at 79.90 against the dollar but regained lost ground to bid at 79.80, registering a gain of 4 paise over its previous close.
The domestic unit opened lower at 79.90 against the dollar but regained lost ground to bid at 79.80, registering a gain of 4 paise over its previous close.
The rupee appreciated by 4 paise to 79.80 against the US dollar in early trade on Monday due to fall in crude oil prices in global markets and weakness in the US currency overseas.
However, losses in domestic stock markets affected the local unit and limited gains, forex traders said.
In the interbank foreign exchange, the domestic unit opened at 79.90 against the dollar, but regained lost ground at 79.80, registering a gain of 4 paise over its previous close.
The rupee had lost 20 paise to close at 79.84 against the dollar in the previous session.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.05% to 108.11.
Global oil benchmark Brent crude futures fell 1.14% to USD 95.62 a barrel.
In the equity market, the 30-share BSE Sensex was trading at 59,294.97, down 351.18 points or 0.59%. Similarly, the broader NSE Nifty fell 107.35 points or 0.60% to 17,651.10.
Foreign institutional investors (FIIs) remained net buyers in the capital market as they bought shares worth Rs 1,110.90 crore on Friday, according to provisional data.
After becoming net buyers last month, foreign investors have shown tremendous enthusiasm for Indian equities and have invested around ₹44,500 crore so far in August.