Mumbai: The rupee depreciated 10 paise to settle at 83.44 against the US dollar on Monday, tracking rising crude oil prices in international markets.
However, a firm trend in domestic equity markets, positive manufacturing PMI data and a weak US dollar against major currencies overseas capped the sharp fall, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.39 and moved between the high of 83.38 and the low of 83.47 against the greenback during the session.
The unit finally settled at 83.44 against the dollar, registering a loss of 10 paise from its previous closing level.
On Friday, the rupee settled 11 paise higher at 83.34 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 105.24, lower by 0.28 per cent.
India’s forex reserves jumped by $816 million to $653.711 billion in the week ended June 21, the RBI said on Friday.
In the previous week, the overall reserves had dropped by $2.922 billion to $652.895 billion.
The central government’s fiscal deficit was 3 per cent of the annual estimates at May-end 2024-25, the first two months of the financial year during which model code of conduct
was in place due to Lok Sabha elections.