Rupee falls to 73.79 against US dollar
Mumbai: The rupee depreciated by 23 paise to settle at 73.79 against the US dollar on Monday following a massive selloff in domestic equities and strong American currency overseas.
However, softening crude prices and persistent foreign fund inflows restricted the rupee's fall, forex dealers said. At the interbank forex market, the domestic unit opened steep lower at 73.74 against the greenback. It swung between a low of 73.81 and a high of 73.63 during the session. It finally settled at 73.79, down 23 paise against its previous close. On Friday, the rupee had strengthened by 3 paise to close at 73.56 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, surged 0.94 per cent at 90.80.