<p>Mumbai: The rupee depreciated 14 paise to close at 86.30 (provisional) against the US dollar on Monday due to consistent dollar demand from oil importers.</p>.<p>Forex traders said after breaching the crucial 86 level, the rupee continued its decline, which intensified the downward trend, tracking a strengthening dollar index.</p>.<p>At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback and touched an intra-day high of 86.19 and a low of 86.36 against the greenback.</p>.<p>At the end of Monday's trading session, the local unit settled at 86.30, down 14 paise over its previous closing price.</p>.<p>On Friday, the rupee settled 4 paise lower at 86.16 against the US dollar.</p>.<p>Forex traders said all eyes are now on the outcome of India-US trade talks, especially as the August 1 deadline for potential tariffs on Indian exports draws closer. If the discussions fail or get delayed, it would add to the rupee's challenges, and if a deal is reached, it could offer a much-needed breather.</p>.<p>The uncertainty around the India-US trade deal is likely to keep market participants cautious, they added.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 98.26.</p>.<p>Brent crude, the global oil benchmark, fell 0.48 per cent to USD 68.95 per barrel in futures trade.</p>.<p>"The Indian rupee has experienced considerable weakness in recent days and remains the weakest among Asian currencies.</p>.<p>"The primary catalysts for this decline are consistent dollar demand from the importers and a continued exodus of foreign capital. On the technical front, the spot USD/INR has immediate resistance at 86.65 and a significant support at 85.80," said Dilip Parmar, Research Analyst, HDFC Securities.</p>.<p>In the domestic equity market, the 30-share BSE Sensex advanced 442.61 points, or 0.54 per cent, to 82,200.34, while the Nifty rose 122.30 points, or 0.49 per cent, to 25,090.70.</p>.<p>Foreign institutional investors (FIIs) purchased equities worth Rs 374.74 crore on a net basis on Friday, according to exchange data. </p>
<p>Mumbai: The rupee depreciated 14 paise to close at 86.30 (provisional) against the US dollar on Monday due to consistent dollar demand from oil importers.</p>.<p>Forex traders said after breaching the crucial 86 level, the rupee continued its decline, which intensified the downward trend, tracking a strengthening dollar index.</p>.<p>At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback and touched an intra-day high of 86.19 and a low of 86.36 against the greenback.</p>.<p>At the end of Monday's trading session, the local unit settled at 86.30, down 14 paise over its previous closing price.</p>.<p>On Friday, the rupee settled 4 paise lower at 86.16 against the US dollar.</p>.<p>Forex traders said all eyes are now on the outcome of India-US trade talks, especially as the August 1 deadline for potential tariffs on Indian exports draws closer. If the discussions fail or get delayed, it would add to the rupee's challenges, and if a deal is reached, it could offer a much-needed breather.</p>.<p>The uncertainty around the India-US trade deal is likely to keep market participants cautious, they added.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 98.26.</p>.<p>Brent crude, the global oil benchmark, fell 0.48 per cent to USD 68.95 per barrel in futures trade.</p>.<p>"The Indian rupee has experienced considerable weakness in recent days and remains the weakest among Asian currencies.</p>.<p>"The primary catalysts for this decline are consistent dollar demand from the importers and a continued exodus of foreign capital. On the technical front, the spot USD/INR has immediate resistance at 86.65 and a significant support at 85.80," said Dilip Parmar, Research Analyst, HDFC Securities.</p>.<p>In the domestic equity market, the 30-share BSE Sensex advanced 442.61 points, or 0.54 per cent, to 82,200.34, while the Nifty rose 122.30 points, or 0.49 per cent, to 25,090.70.</p>.<p>Foreign institutional investors (FIIs) purchased equities worth Rs 374.74 crore on a net basis on Friday, according to exchange data. </p>