<p>Mumbai: The rupee depreciated 11 paise to settle at 83.45 (provisional) against the US dollar on Monday, tracking rising crude oil prices in international markets.</p><p>However, a firm trend in domestic equity markets, positive manufacturing PMI data and a weak US dollar against major currencies overseas capped the sharp fall, forex traders said.</p><p>At the interbank foreign exchange market, the local unit opened at 83.39 and moved between the high of 83.38 and the low of 83.47 against the greenback during the session.</p>.Rupee falls 9 paise to 83.43 against US dollar in early trade .<p>The unit finally settled at 83.45 (provisional) against the dollar, registering a loss of 11 paise from its previous closing level.</p><p>On Friday, the rupee settled 11 paise higher at 83.34 against the US dollar.</p><p>Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the rupee depreciated on a surge in US treasury yields and rising crude oil prices.</p><p>Oil prices were hovering at nearly two-month high levels while the US bond yields above 4 per cent pressurised Asian currencies. However, positive domestic markets and a rise in manufacturing PMI supported the rupee.</p><p>Choudhary further said the rupee is lkely to trade with a slight positive bias on gains in domestic markets and expectations of fresh foreign inflows.</p><p>"Traders may take cues from ISM manufacturing PMI and construction spending data from the US. USD-INR spot price is expected to trade in a range of Rs 83.10 to Rs 83.70," he added.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.24, lower by 0.28 per cent.</p><p>Brent crude futures, the global oil benchmark, advanced 0.41 per cent to USD 85.35 per barrel.</p><p>In the domestic equity market, The 30-share BSE Sensex climbed 443.46 points, or 0.56 per cent, to close at 79,476.19 points. The broader NSE Nifty settled 131.35 points, or 0.55 per cent, higher at 24,141.95 points.</p><p>The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) increased from 57.5 in May to 58.3 in June, indicating a sharper improvement in business conditions.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 23.09 crore, according to exchange data.</p><p>India's forex reserves jumped by USD 816 million to USD 653.711 billion in the week ended June 21, the RBI said on Friday.</p><p>In the previous week, the overall reserves had dropped by USD 2.922 billion to USD 652.895 billion.</p><p>The central government's fiscal deficit was 3 per cent of the annual estimates at May-end 2024-25, the first two months of the financial year during which model code of conduct was in place due to Lok Sabha elections.</p>
<p>Mumbai: The rupee depreciated 11 paise to settle at 83.45 (provisional) against the US dollar on Monday, tracking rising crude oil prices in international markets.</p><p>However, a firm trend in domestic equity markets, positive manufacturing PMI data and a weak US dollar against major currencies overseas capped the sharp fall, forex traders said.</p><p>At the interbank foreign exchange market, the local unit opened at 83.39 and moved between the high of 83.38 and the low of 83.47 against the greenback during the session.</p>.Rupee falls 9 paise to 83.43 against US dollar in early trade .<p>The unit finally settled at 83.45 (provisional) against the dollar, registering a loss of 11 paise from its previous closing level.</p><p>On Friday, the rupee settled 11 paise higher at 83.34 against the US dollar.</p><p>Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the rupee depreciated on a surge in US treasury yields and rising crude oil prices.</p><p>Oil prices were hovering at nearly two-month high levels while the US bond yields above 4 per cent pressurised Asian currencies. However, positive domestic markets and a rise in manufacturing PMI supported the rupee.</p><p>Choudhary further said the rupee is lkely to trade with a slight positive bias on gains in domestic markets and expectations of fresh foreign inflows.</p><p>"Traders may take cues from ISM manufacturing PMI and construction spending data from the US. USD-INR spot price is expected to trade in a range of Rs 83.10 to Rs 83.70," he added.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.24, lower by 0.28 per cent.</p><p>Brent crude futures, the global oil benchmark, advanced 0.41 per cent to USD 85.35 per barrel.</p><p>In the domestic equity market, The 30-share BSE Sensex climbed 443.46 points, or 0.56 per cent, to close at 79,476.19 points. The broader NSE Nifty settled 131.35 points, or 0.55 per cent, higher at 24,141.95 points.</p><p>The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) increased from 57.5 in May to 58.3 in June, indicating a sharper improvement in business conditions.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 23.09 crore, according to exchange data.</p><p>India's forex reserves jumped by USD 816 million to USD 653.711 billion in the week ended June 21, the RBI said on Friday.</p><p>In the previous week, the overall reserves had dropped by USD 2.922 billion to USD 652.895 billion.</p><p>The central government's fiscal deficit was 3 per cent of the annual estimates at May-end 2024-25, the first two months of the financial year during which model code of conduct was in place due to Lok Sabha elections.</p>