Mumbai: The Indian rupee depreciated against the US dollar in the forex market. As per market experts, the selling pressure in domestic equities, sustained foreign fund outflows, rising crude oil prices and strengthening of the US dollar has weighed upon the Indian currency.
At the interbank foreign exchange, the domestic currency opened weak at 82.54 against the US dollar. During trading, it then lost further ground to reach at 82.63, registering a fall of 35 paise over its previous close. On Friday, the Indian rupee settled 10 paise higher at 82.28 against the US dollar.
The dollar index, which measures the US dollar’s strength against a basket of six currencies, surged 0.35% to 105.16. Foreign Institutional Investors (FIIs) were net sellers in the capital markets, as they offloaded shares worth Rs 158.01 crore.