Rupee ends 5-day winning streak, loses 11 paise against US dollar

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Halting its five-session winning streak, the rupee fell 11 paise on Monday to close at 74.26 (tentative) against the US dollar, following the firm US dollar.

In the interbank forex market, the national currency opened at 74.21 against the US dollar and slipped further to close at 74.26, recording an 11 paise decline from its previous close.

On Friday, the rupee stood at 74.15 against the US dollar.

During the session, local unit touched an intraday high of 74.21 and a low of 74.29 against the US dollar.

The dollar index, which measures the strength of the greenback against a basket of six currencies, traded slightly down 0.02% to 92.77.

Currency traders said easing crude oil prices and positive national actions would limit the local unit’s depreciation bias.

Futures on Brent crude, the world’s benchmark for oil, fell 3.83% to $ 67.99 per barrel.

On the national stock market front, the BSE Sensex finished up 125.13 points or 0.23% at 54,402.85, while the broader NSE Nifty index rose 20.05 points or 0 , 12% at 16,258.25.

Meanwhile, foreign institutional investors were net sellers in the capital market on Friday as they dumped shares worth Rs 69.37 crore, according to exchange data.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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