Mumbai: The Indian rupee depreciated against the US dollar and UAE dirham in the forex market. The negative trend in the Indian equity market weighed upon the local currency.
At the interbank foreign exchange, the Indian rupee opened at 80.53. During trading, it then reached at 80.93, registering a loss of 15 paise over its previous close. On Friday, the Indian rupee appreciated by 62 paise to close at 80.78 against the dollar. The domestic currency is trading at 22.05 against the UAE dirham.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, surged 0.49% to 106.80. Foreign Institutional Investors (FIIs) were net buyers in capital markets as they purchased shares worth Rs 39.58 billion.
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