On Monday, the Indian rupee dropped low by 9 paise at 83.35 against the US dollar. The negative trends in our domestic entities and foreign funds outflows were the influencing factors.
At the interbank foreign exchange markets, the rupee opened at 83.25 and ended up at its lowest point of 83.35 against the dollar. The closing value on Friday (November 13), was 83.26. The Closing value on Monday is 9 paise less than Friday.
The dollar index went down by 0.42% to 103.48 and the price of Brent crude oil, a global benchmark, went up by 0.66% to $81.14 per barrel.
Domestically, the Sensex, a stock market index, fell by 139.58 points (0.21%) to 65,655.15 points, and the Nifty went down by 37.80 points (0.19%) to 19,694.00 points.
On Friday, foreign institutional investors (FIIs) sold shares amounting to Rs 477.76 crore in the capital markets. Additionally, the Reserve Bank reported a decline of $462 million in India's foreign exchange reserves for the previous week ending November 10, bringing the overall reserves to $590.321 billion, in contrast to the previous week's increase to $590.783 billion.
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