At the interbank forex market, the local unit opened at 75.03 against the greenback and witnessed an intra-day high of 74.60 and a low of 75.05
The rupee declined by 7 paise to close at 75.11 (provisional) against US Dollar on Thursday as geopolitical tensions pushed investors towards safe-haven assets.
Forex traders said sustained foreign fund outflows and elevated crude oil prices too weakened the rupee.
At the interbank forex market, the local unit opened at 75.24 against the greenback and witnessed an intra-day high of 74.96 and a low of 75.24
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 96.04.
On Monday, the rupee had slumped by 24 paise to close at an over nine-week low of 75.60
Forex traders said sustained foreign fund outflows and elevated crude oil prices too weakened the rupee position.
The domestic market remained in the red for the second straight session after witnessing a massive sell-off on Friday
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent higher at 96.21
Forex traders said muted domestic equities and elevated crude oil prices weighed on the local unit.
Forex traders said muted domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed on the local unit
Forex traders said muted domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed on the local unit.
Rupee opened at 74.90 against the American dollar, and later witnessed an intra-day high of 74.88 and a low of 75.05 against the greenback
At the interbank foreign exchange, the rupee opened at 74.70 against the American dollar, and later witnessed an intra-day high of 74.68 and a low of 74.87 against the greenback
However, the surge in the rupee was restricted amid elevated crude oil prices and muted domestic equities.
One gain from the asset will be for Indians working abroad, sending money home will become simpler and cheaper.
The rupee surged 18 paise to close at 74.70 (provisional) against the US dollar on Friday tracking the weakness of the American currency in the overseas market.
The rupee declined 5 paise to close at 74.88 (provisional) against the US dollar on Thursday, weighed down by the strength of the American currency and muted domestic equities.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.10 per cent to 96.03.
Investors were cautious after Finance Minister Nirmala Sitharaman on Tuesday said that the fiscal deficit in 2021-22 will be 6.9 per cent of GDP and 6.4 per cent in 2022-23, forex traders said