Increased demand for the US currency from importers and losses in the domestic equity market weighed on the rupee.
The Indian rupee opened lower by 36 paise at 72.80 per dollar on Monday. The dollar is trading higher against some currencies overseas, which has put pressure on the rupee.
Besides, increased demand for the US currency from importers and losses in the domestic equity market weighed on the rupee.
Currently, the rupee is trading lower at 72.84/$.
On Friday, the local currency clocked its biggest single-day gain in over five years, gained by 100 paise to close at 72.45 against the US dollar on easing crude oil prices.
RBI's reference rate for the dollar stood at Rs72.87, while for the euro, it was at Rs83.22. Further, its reference rate for the yen stood at Rs64.47, while that for the British pound sterling was at Rs94.75.
Besides, increased demand for the US currency from importers and losses in the domestic equity market weighed on the rupee.
Currently, the rupee is trading lower at 72.84/$.
On Friday, the local currency clocked its biggest single-day gain in over five years, gained by 100 paise to close at 72.45 against the US dollar on easing crude oil prices.
RBI's reference rate for the dollar stood at Rs72.87, while for the euro, it was at Rs83.22. Further, its reference rate for the yen stood at Rs64.47, while that for the British pound sterling was at Rs94.75.
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