<p>Mumbai: The rupee declined 6 paise to 88.72 against the US dollar in early trade on Monday amid a firm American currency and relentless outflow of foreign capital.</p>.<p>Positive sentiment in domestic equity markets and lower crude oil prices overseas, however, prevented a sharp fall in the Indian currency, forex analysts said.</p>.<p>They said investors are also watching the progress on the proposed India-US trade deal as well as the domestic PMI data to be released later this week.</p>.<p>At the interbank foreign exchange market, the rupee opened at 88.70 and slipped further to trade at 88.72 against the greenback in initial deals, registering a loss of 6 paise from its previous closing level.</p>.<p>On Friday, the rupee settled 4 paise higher at 88.66 against the US dollar.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent higher at 99.35.</p>.<p>Brent crude, the global oil benchmark, was trading 0.85 per cent lower at $63.84 per barrel in futures trade.</p>.<p>On the domestic equity market front, Sensex climbed 212.98 points or 0.25 per cent to 84,775.76 in early trade, while the Nifty advanced 50.90 points or 0.20 per cent to 25,960.95.</p>.<p>Foreign institutional investors sold equities worth Rs 4,968.22 crore on Friday, according to exchange data.</p>.<p>The government data released on Friday showed the country's wholesale price inflation fell to a 27-month low of (-) 1.21 per cent in October, led by a sharp deflation in food items like pulses and vegetables, and lower prices of fuel and manufactured items.</p>.<p>Wholesale Price Index (WPI)-based inflation was 0.13 per cent in September and 2.75 per cent in October last year, the data showed.</p>.<p>Also, foreign exchange reserves dropped by another $2.699 billion to $687.034 billion during the week ended November 7, the RBI said on Friday.</p>.<p>The forex kitty has been on a declining trend for the past few weeks, and had decreased by $5.623 billion to $689.733 billion in the previous reporting week. </p>
<p>Mumbai: The rupee declined 6 paise to 88.72 against the US dollar in early trade on Monday amid a firm American currency and relentless outflow of foreign capital.</p>.<p>Positive sentiment in domestic equity markets and lower crude oil prices overseas, however, prevented a sharp fall in the Indian currency, forex analysts said.</p>.<p>They said investors are also watching the progress on the proposed India-US trade deal as well as the domestic PMI data to be released later this week.</p>.<p>At the interbank foreign exchange market, the rupee opened at 88.70 and slipped further to trade at 88.72 against the greenback in initial deals, registering a loss of 6 paise from its previous closing level.</p>.<p>On Friday, the rupee settled 4 paise higher at 88.66 against the US dollar.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent higher at 99.35.</p>.<p>Brent crude, the global oil benchmark, was trading 0.85 per cent lower at $63.84 per barrel in futures trade.</p>.<p>On the domestic equity market front, Sensex climbed 212.98 points or 0.25 per cent to 84,775.76 in early trade, while the Nifty advanced 50.90 points or 0.20 per cent to 25,960.95.</p>.<p>Foreign institutional investors sold equities worth Rs 4,968.22 crore on Friday, according to exchange data.</p>.<p>The government data released on Friday showed the country's wholesale price inflation fell to a 27-month low of (-) 1.21 per cent in October, led by a sharp deflation in food items like pulses and vegetables, and lower prices of fuel and manufactured items.</p>.<p>Wholesale Price Index (WPI)-based inflation was 0.13 per cent in September and 2.75 per cent in October last year, the data showed.</p>.<p>Also, foreign exchange reserves dropped by another $2.699 billion to $687.034 billion during the week ended November 7, the RBI said on Friday.</p>.<p>The forex kitty has been on a declining trend for the past few weeks, and had decreased by $5.623 billion to $689.733 billion in the previous reporting week. </p>