Rupee falls 7 paise to close at 81.81 against U.S. dollar
The Hindu
The domestic unit finally settled at 81.81 against the American currency, registering a fall of 7 paise over its last close
The rupee depreciated 7 paise to close at 81.81 (provisional) against the U.S. dollar on Monday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities.
At the interbank foreign exchange market, the local unit opened at 81.84 and later witnessed an intraday high of 81.74 and a low of 81.91 during the session.
The domestic unit finally settled at 81.81 against the American currency, registering a fall of 7 paise over its last close.
On Friday, the rupee depreciated 10 paise to close at 81.74 against the U.S. currency.
The rupee depreciated on weak domestic markets and a strong dollar. FII outflows put downside pressure on the rupee, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas.
The U.S. dollar gained amid hawkish tone by most Federal Open Market Committee (FOMC) members and concerns over rising COVID-19 cases in China, which dimmed hopes of reopening in China.
Economic data from the U.S. remained mixed. The U.S. existing home sales declined to 4.43 million in October from 4.71 million in September but topped estimates of 4.41 million.
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