The rupee declined by 20 paise to settle at 83.14 (provisional) against the US dollar due to rising crude oil prices and a strong American currency against major rivals overseas. Subdued equity markets and withdrawal of foreign funds also weighed on the domestic currency, forex traders said.
At the interbank foreign exchange market, the local unit opened weak at 83.04 and traded between a high of 83.04 and a low of 83.15 against the greenback. It finally settled at 83.14 (provisional) against the dollar, registering a fall of 20 paise from the previous close. On Friday, the rupee climbed 19 paise to close at 82.94 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.08 per cent to 105.67.
Brent crude futures, the global oil benchmark, advanced 0.45 per cent to USD 93.69 per barrel.
On the domestic equity market front, the BSE Sensex closed 14.54 points or 0.02 per cent higher at 66,023.69. The broader NSE Nifty settled flat at 19,674.55.
India’s foreign exchange reserves declined by USD 867 million to USD 593.037 billion in the week ended September 15, the Reserve Bank said on Friday.
Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they offloaded shares worth Rs 1,326.74 crore, according to exchange data.
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