Mumbai: The Indian rupee declined against the US dollar in early trade on Monday amid a strong American currency overseas and withdrawal of foreign funds from domestic equity markets. However, positive sentiment in the domestic equity markets and retreating crude oil prices in international markets supported the Indian currency at lower level.
At the interbank foreign exchange, the domestic currency opened weak at 83.39 against the US dollar and then slipped further to 83.43, registering a loss of 5 paise compared to its previous closing level. On Friday, the Indian rupee had declined 10 paise to close at 83.38 against the US dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, increased 0.05 per cent to 105.86.Foreign institutional investors (FIIs) were net sellers in the Indian capital markets on Friday as they offloaded shares worth Rs 3,408.88 crore.
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