The rupee on Monday strengthened by 10 paise to close at 82.72 (provisional) against the US dollar as the American currency retreated from higher levels.
Forex traders said a muted trend in domestic equities and foreign fund outflows weighed on investor sentiment and restricted the appreciation bias.
At the interbank forex market, the local unit opened at 82.69 against the American currency and finally closed at 82.72 (provisional) against the greenback, registering a gain of 10 paise over its previous close of 82.82.
The rupee touched a high of 82.62 and a low of 82.74 against the dollar during the trading session.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04 percent to 103.90.
Global oil benchmark Brent crude futures rose 1.05 per cent to $83.87 a barrel.
“Rupee was trading near 82.75 as dollar index traded below $104. Asian currencies were trading strong on weakness in dollar,” said Jatin Trivedi, VP Research Analyst, LKP Securities.
Trivedi further said that the US Fed’s minutes update will be keenly watched this week for further trend.
On the domestic equity market front, the 30-share BSE Sensex declined 311.03 points, or 0.51 per cent, to close at 60,691.54, while the broader NSE Nifty declined 99.60 points, or 0.56 per cent, to 17,844.60.
Foreign institutional investors (FIIs) were net sellers in the capital market on Friday, selling shares worth Rs 624.61 crore, according to exchange data.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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