The domestic currency opened weak at 79.50 per dollar in the interbank foreign exchange market
The domestic currency opened weak at 79.50 per dollar in the interbank foreign exchange market
The rupee on Monday fell 40 paise to close at 79.64 (provisional) against the US dollar as investors lost their risk appetite.
Forex dealers said a fall in global crude oil prices and a rise in domestic equities limited the losses to some extent.
The domestic currency opened weak at 79.50 per dollar in the interbank foreign exchange market. It ranged between a high of 79.45 and a low of 79.65 during the session.
It finally closed at 79.64, down 40 paise from the previous close of 79.24.
The dollar index, which measures the greenback’s strength against a basket of six currencies, slipped 0.25% to 106.57.
Global oil benchmark Brent crude futures fell 0.54% to $94.38 a barrel.
On the domestic equity market front, the BSE Sensex ended 465.14 points or 0.80% higher at 58,853.07, while the broader NSE Nifty edged higher by 127.60 points or 0.73% at 17,525.10.
Foreign institutional investors remained net buyers in the capital markets on Friday as they bought shares worth Rs 1,605.81 crore, according to exchange data.
After becoming net buyers last month, foreign investors continued their positive outlook on Indian equities and infused over Rs 14,000 crore in the first week of August amid softening dollar index.
This was higher than the net investments of around ₹5,000 crore made by foreign portfolio investors (FPIs) throughout July, data from the depositories showed.