The rupee fell by 49 paise to close at 81.89 (provisional) against the US dollar on Monday as heavy selling pressure in the domestic equities and a spike in crude oil prices weighed on the local unit.<\/p>\n
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Besides, a stronger greenback against key rivals and persistent foreign fund outflows put pressure on the domestic currency, forex dealers said.<\/p>\n
At the interbank foreign exchange market, the local currency opened weak at 81.65, fell further to 81.98 against the American currency.<\/p>\n
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It finally ended at 81.89, down 49 paise over its previous close.<\/p>\n
In the previous session, the rupee settled at 81.40 against the greenback.<\/p>\n
On the domestic equity market front, the 30-share BSE Sensex dropped 638.11 points or 1.11 per cent to end at 56,788.81, while the broader NSE Nifty fell 207 points or 1.21 per cent to 16,887.35.<\/p>\n
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.30 per cent to 112.45.<\/p>\n
Global oil benchmark Brent crude futures surged 4.12 per cent to USD 88.65 per barrel.<\/p>\n
Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 1,565.31 crore, as per exchange data.<\/p>\n
After infusing funds in the last two months, foreign investors turned sellers again in September and pulled out Rs 7,600 crore from the Indian equity markets amid a hawkish stance by the US Fed and sharp depreciation in the rupee.<\/p>\n<\/div>\n[ad_2]\n<\/p>\n
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