Rupee slips 14 paise to 75.04 against US dollar in early trade

Rupee slips 14 paise to 75.04 against US dollar in early trade

The Indian rupee depreciated 14 paise to 75.04 against the US dollar in opening trade on Monday, weighed down firm crude oil prices and a muted trend in domestic equities.

At the interbank foreign exchange, the rupee opened on a weak note at 74.98, then fell further to 75.04, registering a decline of 14 paise from the last close.

On Friday, the rupee had closed at 74.90 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12 per cent to 93.53.

Global oil benchmark Brent crude futures advanced 0.80 per cent to USD 86.21 per barrel.

Moreover, foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 2,697.70 crore, as per exchange data.

On the domestic equity market front, the 30-share Sensex was trading 229.08 points or 0.38 per cent lower at 60,592.54, while the broader NSE Nifty was trading 98.55 points or 0.54 per cent lower at 18,016.35.