Rupee drops 39 paise to 79.63 against U.S. dollar
The Hindu
Mumbai
The rupee depreciated by 39 paise to close at 79.63 against the U.S. currency on Monday, pressured by dollar demand and waning risk appetite among investors.
Lower crude oil prices and a rally in domestic equities restricted the losses to some extent, forex dealers said.
At the interbank foreign exchange market, the domestic currency opened weak at 79.50 per dollar. It oscillated between a high of 79.45 and a low of 79.65 during the session.
It finally settled at 79.63, down 39 paise over its 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.
Brent crude futures, the global oil benchmark, declined 0.54% to ₹94.38 per 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 advanced 127.60 points, or 0.73%, to 17,525.10.