<p>Mumbai: The rupee traded in a narrow range and fell 5 paise to 88.77 against the US dollar in early trade on Monday, tracking the broad strength of the American currency amid a risk-off tone globally.</p><p>Forex traders said the rupee is hovering near its all-time closing low level as the RBI is monitoring the depreciation of the USDINR pair towards 88.80.</p><p>At the interbank foreign exchange market, the rupee opened at 88.75, the fell to 88.77 against the greenback, registering a fall of 5 paise from its previous close.</p><p>On Friday, the rupee had settled at 88.72 against the US dollar.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 98.93.</p><p>Brent crude, the global oil benchmark, rose 1.50 per cent to USD 63.67 per barrel in futures trading.</p><p>"The market sentiment for the pair is influenced by the US dollar's strength amid a modest risk-off tone globally and domestic factors, including RBI's stable policy stance and controlled inflation outlook," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.</p>.Rupee rises 10 paise to close at 88.69 against US dollar.<p>The dollar index was slightly down following a softer US-China trade war, Bhansali said, adding that the global market volatility and geopolitical developments remain the key drivers in the near term.</p><p>On the domestic equity market front, Sensex dropped 451.82 points to 82,049 in early trade, while the Nifty declined 109.55 points to 25,175.80.</p><p>Meanwhile, Foreign Institutional Investors bought equities worth Rs 459.20 crore on Friday, according to exchange data.</p><p>India's forex reserves fell by USD 276 million to USD 699.96 billion during the week ended October 3, according to RBI data.</p><p>In the previous reporting week, India's forex reserves had dropped by USD 2.334 billion to USD 700.236 billion.</p>
<p>Mumbai: The rupee traded in a narrow range and fell 5 paise to 88.77 against the US dollar in early trade on Monday, tracking the broad strength of the American currency amid a risk-off tone globally.</p><p>Forex traders said the rupee is hovering near its all-time closing low level as the RBI is monitoring the depreciation of the USDINR pair towards 88.80.</p><p>At the interbank foreign exchange market, the rupee opened at 88.75, the fell to 88.77 against the greenback, registering a fall of 5 paise from its previous close.</p><p>On Friday, the rupee had settled at 88.72 against the US dollar.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 98.93.</p><p>Brent crude, the global oil benchmark, rose 1.50 per cent to USD 63.67 per barrel in futures trading.</p><p>"The market sentiment for the pair is influenced by the US dollar's strength amid a modest risk-off tone globally and domestic factors, including RBI's stable policy stance and controlled inflation outlook," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.</p>.Rupee rises 10 paise to close at 88.69 against US dollar.<p>The dollar index was slightly down following a softer US-China trade war, Bhansali said, adding that the global market volatility and geopolitical developments remain the key drivers in the near term.</p><p>On the domestic equity market front, Sensex dropped 451.82 points to 82,049 in early trade, while the Nifty declined 109.55 points to 25,175.80.</p><p>Meanwhile, Foreign Institutional Investors bought equities worth Rs 459.20 crore on Friday, according to exchange data.</p><p>India's forex reserves fell by USD 276 million to USD 699.96 billion during the week ended October 3, according to RBI data.</p><p>In the previous reporting week, India's forex reserves had dropped by USD 2.334 billion to USD 700.236 billion.</p>