Rupee Weakens On Higher Oil And Weak Equities, Ebb And Flow Theme Likely

The rupee started on a weak note, tracking lower equities and higher oil prices, which rose over 3 per cent to above $111 a barrel on supply concerns.

The rupee started on a weak note against the dollar, tracking equity benchmarks which edged lower on Monday and higher oil prices, which rose over 3 per cent to above $111 a barrel on supply concerns.

Reuters quoted the rupee at 76.018 a dollar on Monday, while PTI reported that the currency weakened 24 paise to 76.08 against the US dollar in early trade. 

On Thursday, gains in domestic equity indices helped the rupee close stronger at 75.80 per dollar.