The rupee depreciated 12 paise to 74.93 towards the US greenback in opening commerce on Monday monitoring adverse home equities and strengthening American forex.
The rupee opened on a weak observe at 74.91 on the interbank foreign exchange market, then misplaced additional floor and touched 74.93 towards US greenback, down 12 paise over its final shut.
It had settled at 74.81 towards the US greenback on Friday.
In the meantime, the greenback index, which gauges the buck’s energy towards a basket of six currencies, rose 0.08 per cent to 93.42.
Foreign exchange merchants mentioned overseas fund outflow, robust greenback, muted home equities and rising Covid-19 instances dragged the native unit down.
On the home fairness market entrance, the 30-share BSE benchmark Sensex was buying and selling 414.31 factors decrease at 37,192.58 and broader NSE Nifty fell 105.55 factors to 10,967.90.
International institutional traders had been internet sellers within the capital market as they offloaded shares value Rs 958.64 crore on Friday, in keeping with provisional alternate knowledge.
Brent crude futures, the worldwide oil benchmark, fell 0.34 per cent to USD 43.37 per barrel.
In the meantime, the variety of instances world wide linked to Covid-19 has crossed 1.80 crore and in India, the variety of infections topped the 18-lakh mark.