Indian Rupee settles 15 paise lower at 73.83 against Greenback

The Indiana rupee weakened by 15 paise to provisionally close at 73.83 against the U.S. dollar on Monday as a stronger dollar strength against key rivals and rising crude oil prices weighed on investor sentiment. Further, multiple bouts of volatility on the domestic equities front and mixed cues from global financial markets brought the rupee more under pressure, analysts observed.

At the interbank Foreign exchange market, the rupee opened on a weak note at 73.70 and slid to the day's lowest level at 73.84 a dollar towards the fag-end of the session, and touched touched a high of 73.60.

The domestic unit finally settled the day at 73.83 a dollar, showing a fall of 15 paise over its previous close. On Friday, the currency had closed 4 paise down at 73.68 against the U.S. dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.11 USD to 93.42.

On the domestic equity market front, the BSE Sensex ended marginally higher by 29.41 points higher at 60,077.88. Similarly, the NSE Nifty closed the day 1.90 points higher at 17,855.10. Meanwhile, global crude oil benchmark Brent futures advanced 1.29  USD to USD 78.23 per barrel.

 

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