The rupee pared initial gains to settle 10 paise at 82.16 (preliminary) against the US dollar on Monday, tracking weak sentiment in the domestic stock market and unabated foreign fund inflows.
Traders said lower crude oil prices and a weaker dollar against major currencies limited the Indian currency’s decline.
In the interbank foreign exchange market, the local unit strengthened to 81.78 against the US currency, after touching an intraday low of 82.20. It settled at 82.16 (preliminary) against the greenback, registering a loss of 10 paise from its previous close of 82.06.
At the same time, the dollar index, which shows the strength of the dollar against a basket of six currencies, decreased by 0.37 percent and reached 104.19.
The world futures of Brent oil decreased by 1.72 percent and amounted to 81.36 dollars per barrel.
In the domestic equity market, the 30-share BSE Sensex fell 897.28 points, or 1.52 percent, to end at 58,237.85, while the broader NSE Nifty fell 258.60 points, or 1.49 percent, to 17,154.30.
Foreign institutional investors (FIIs) were net sellers in the capital markets on Friday as they issued shares worth Rs 2,061.47 crore, stock exchange data showed.
Investors traded cautiously, worried about the events following the collapse of the Silicon Valley bank in the US.
(Except for the headline, this story was not edited by NDTV staff and was published on a syndicated channel.)
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Nirmala Sitharaman, the US Treasury Secretary met in Bengaluru ahead of the G20 meeting