Mumbai: The rupee declined 6 paise to settle at 83.44 against the US dollar on Monday, in line with deep losses in equity markets and an elevated dollar against major rivals overseas amid geopolitical tensions.
However, weakening crude oil prices in the international markets and positive domestic macroeconomic data restricted the rupee’s fall, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.46 and traded between 83.42 and 83.47 against the greenback.
The local unit finally settled at 83.44, registering a loss of 6 paise from its previous close.
On Friday, the rupee declined 7 paise to settle at 83.38 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.15 per cent lower at 105.68.
India’s forex reserves jumped by $2.98 billion to a fresh peak of $648.562
billion for the week ended April 5.