Mumbai: The Indian rupee depreciated against the US dollar in the forex market. The strengthening of the US currency, sustained foreign fund outflows, firm crude oil prices and a muted trend in domestic equities weighed upon the domestic currency.
At the interbank foreign exchange, the domestic currency opened weak at 82.35 against the US dollar. During trading, it then fell to 82.50, registering a decline of 42 paise over its last close. On Friday, the Indian rupee settled at 82.08 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of 6 currencies, rose 0.17% to 103.09. Foreign Institutional Investors (FIIs) were net sellers in the India capital markets as they offloaded shares worth Rs 932.44 crore.
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