Mumbai: Rupee depreciated 5 Paise to 74.35 against the US dollar in opening trading on Monday, as a large selling action in domestic equity and American currencies abroad weighing on investor sentiments.
However, lower crude oil prices support local units and limit the fall, word forex dealers.
In foreign currencies between banks, Rupee opened weak at 74.36 but rose to quote 74.35 against the US dollar, showing a decline of 5 Paise in the initial session.
On Thursday, Rupee was closed at 74.30 against the US dollar.
The Forex market was closed on Friday on the occasion of ‘Teacher Nanak Jayanti’.
At the front of the domestic equity market, Sensex 30-shares traded 641.37 points or 1.08 percent lower at 58,994.64, while the wider NIFTY NIFTY decreased by 179.25 points or 1,085.5555.
The dollar index, which measures the greenback’s strength against a basket of six currencies, up 0.10 percent to 96.12.
Global Oil Benchmark Brent Crude futures fell 0.19 percent to USD 78.74 per barrel.
Investor foreign institutions are clean sellers in the capital market on Thursday, because they lowered shares worth Rs 3.930.62 Crore, according to data exchange.