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Rupee Depreciates as Domestic Equities and Foreign Fund Outflows

In the morning session on Monday, the Indian rupee fell 4 paise against the US dollar and 23.1 paise against the UAE dirham.

The Indian rupee faced a 4-paise depreciation against the US dollar (23.1 against the UAE dirham) in the morning session on Monday. 

This decline was attributed to the negative trajectory observed in the domestic equities market.

Factors Influencing the Rupee Movement:

Forex traders pointed to persistent foreign fund outflows as a significant factor contributing to the weakened position of the local currency. 

The rupee opened at 83.31 against the dollar at the interbank foreign exchange but experienced a drop to 83.32 in the initial deals, marking a 4-paise decrease from its previous close.

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