Rupee falls 6 paise to 86.17 against US dollar in early trade

MUMBAI:  Rupee declined 6 paise to 86.17 against the US dollar in early trade on Monday as global crude oil prices continued to surge amid escalating tensions in the Middle East.

A strong dollar against international currencies and FII outflows further pressured the rupee, while a positive opening at the domestic equity market and an increase in the country’s forex reserves prevented further losses, according to forex traders.

At the interbank foreign exchange, the local unit opened at 86.16 before falling further to 86.17 against the greenback, down 6 paise from its previous close. The rupee had plummeted 59 paise to 86.11 against the US dollar on Friday. PTI