<p>The rupee witnessed range-bound trading against the US dollar in early trade on Monday, weighed down by a negative trend in domestic equities, elevated crude oil prices and strong American currency.</p><p>At the interbank foreign exchange, the rupee opened at 83.09 against the dollar, registering a rise of 7 paise over its previous close. The domestic unit also touched 83.13 against the American currency in initial trade.</p><p>On Friday, the rupee fell 13 paise to settle at 83.16 against the US dollar.</p>.Markets fall in early trade after record-breaking rally.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 105.27.</p><p>Brent crude futures, the global oil benchmark, advanced 0.40 per cent to $94.31 per barrel.</p><p>Forex traders said the depreciation in the rupee can be attributed to several factors, including elevated crude oil prices, strong US dollar, foreign fund outflows and a widening trade deficit.</p><p>India's exports declined by 6.86 per cent to $34.48 billion in August this year as against $37.02 billion in the same month last year, government data showed on Friday.</p><p>Imports too declined by 5.23 per cent to $58.64 billion as against $61.88 billion recorded in August 2022.</p><p>Meanwhile, India's forex reserves dropped by $4.992 billion to $593.904 billion for the week ended September 8, the Reserve Bank of India said on Friday.</p><p>In the previous reporting week, the kitty rose by $4.039 billion to $598.897 billion.</p><p>In the domestic equity market, the 30-share BSE Sensex declined 174.33 points or 0.26 per cent to 67,664.30. The broader NSE Nifty fell 42.15 points or 0.21 per cent to 20,150.20.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they purchased shares worth Rs 164.42 crore, according to exchange data. PTI DRR SHW</p>
<p>The rupee witnessed range-bound trading against the US dollar in early trade on Monday, weighed down by a negative trend in domestic equities, elevated crude oil prices and strong American currency.</p><p>At the interbank foreign exchange, the rupee opened at 83.09 against the dollar, registering a rise of 7 paise over its previous close. The domestic unit also touched 83.13 against the American currency in initial trade.</p><p>On Friday, the rupee fell 13 paise to settle at 83.16 against the US dollar.</p>.Markets fall in early trade after record-breaking rally.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 105.27.</p><p>Brent crude futures, the global oil benchmark, advanced 0.40 per cent to $94.31 per barrel.</p><p>Forex traders said the depreciation in the rupee can be attributed to several factors, including elevated crude oil prices, strong US dollar, foreign fund outflows and a widening trade deficit.</p><p>India's exports declined by 6.86 per cent to $34.48 billion in August this year as against $37.02 billion in the same month last year, government data showed on Friday.</p><p>Imports too declined by 5.23 per cent to $58.64 billion as against $61.88 billion recorded in August 2022.</p><p>Meanwhile, India's forex reserves dropped by $4.992 billion to $593.904 billion for the week ended September 8, the Reserve Bank of India said on Friday.</p><p>In the previous reporting week, the kitty rose by $4.039 billion to $598.897 billion.</p><p>In the domestic equity market, the 30-share BSE Sensex declined 174.33 points or 0.26 per cent to 67,664.30. The broader NSE Nifty fell 42.15 points or 0.21 per cent to 20,150.20.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they purchased shares worth Rs 164.42 crore, according to exchange data. PTI DRR SHW</p>
