<p>The rupee plummeted 33 paise to close at 75.91 (provisional) against the US dollar on Monday, tracking weak domestic equities and foreign fund outflows.</p>.<p>Forex traders said rising crude oil prices and concerns about the effectiveness of the fiscal stimulus package also weighed on investor sentiment.</p>.<p>Besides, market participants said the extension of the nationwide lockdown could weigh on the economic outlook of the country.</p>.<p>The local unit opened sharply lower at 75.85, then lost further ground to finally settle at 75.91 against the US dollar, down 33 paise over its previous close.</p>.<p>It had settled at 75.58 against the US dollar on Friday.</p>.<p>The government on Sunday extended the coronavirus lockdown for two more weeks with the fourth phase providing more relaxations outside the containment zones.</p>.<p>Though some restrictions were eased, "but the extension could further worsen the economic outlook for the current fiscal year, which could weigh on the currency further," Reliance Securities said in a research note.</p>.<p>Meanwhile, domestic bourses were trading on a negative note with the benchmark Sensex plunging 748.26 points to 30,349.47 and the broader Nifty down 221.80 points at 8,915.05.</p>.<p>Foreign institutional investors were net sellers in the capital market, as they sold equity shares worth Rs 2,388.04 crore on Friday, according to provisional exchange data.</p>.<p>Brent crude futures, the global oil benchmark, rose 4.22 per cent to USD 33.87 per barrel.</p>
<p>The rupee plummeted 33 paise to close at 75.91 (provisional) against the US dollar on Monday, tracking weak domestic equities and foreign fund outflows.</p>.<p>Forex traders said rising crude oil prices and concerns about the effectiveness of the fiscal stimulus package also weighed on investor sentiment.</p>.<p>Besides, market participants said the extension of the nationwide lockdown could weigh on the economic outlook of the country.</p>.<p>The local unit opened sharply lower at 75.85, then lost further ground to finally settle at 75.91 against the US dollar, down 33 paise over its previous close.</p>.<p>It had settled at 75.58 against the US dollar on Friday.</p>.<p>The government on Sunday extended the coronavirus lockdown for two more weeks with the fourth phase providing more relaxations outside the containment zones.</p>.<p>Though some restrictions were eased, "but the extension could further worsen the economic outlook for the current fiscal year, which could weigh on the currency further," Reliance Securities said in a research note.</p>.<p>Meanwhile, domestic bourses were trading on a negative note with the benchmark Sensex plunging 748.26 points to 30,349.47 and the broader Nifty down 221.80 points at 8,915.05.</p>.<p>Foreign institutional investors were net sellers in the capital market, as they sold equity shares worth Rs 2,388.04 crore on Friday, according to provisional exchange data.</p>.<p>Brent crude futures, the global oil benchmark, rose 4.22 per cent to USD 33.87 per barrel.</p>