Rupee weakens against US dollar to open at 76.63
Rupee weakens against US dollar to open at 76.63
The rupee ended 18 paise lower at 76.62 against the US dollar in early trade on Monday as intensifying geopolitical risks on Russia-Ukraine conflict pushed investors towards safe-haven assets.
Forex traders said sustained outflow of foreign capital and strong US currency overseas also weighed on investor sentiment.
However, higher domestic equities supported the local currency and limited losses, he said.
At the interbank foreign exchange, the rupee opened lower at 76.63 against the US dollar. Later, it touched 76.62, recording a fall of 18 paise over the previous close.
On Friday, the rupee had closed almost flat at 76.44 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.07% to 99.25.
Meanwhile, global oil benchmark Brent crude futures slipped 1.91% to $110.52 a barrel.
On the domestic equity market front, the 30-share Sensex was trading 209.01 points or 0.38% higher at 55,759.31, while the broader NSE Nifty was up 32.30 points or 0.19% at 16,662.75.
The Russian offensive spread on Sunday to Yvoryev, which has long been used to train Ukrainian troops. Officials were due to resume talks on Monday, according to the Russian state news agency Tassi,
Foreign institutional investors remained net sellers in the capital markets on Friday as they offloaded shares worth Rs 2,263.90 crore, according to stock exchange data.