Rupee falls 6 paise to 83.91 against dollar

Mumbai: The rupee declined 6 paise to close at 83.91 against the greenback on Monday on disappointing domestic macroeconomic data.

However, positive domestic markets, wherein both the benchmark indices scaled lifetime high levels and foreign fund inflows cushioned the downside.

Moreover, easing crude oil prices and weakness of the American currency in the overseas market supported the local unit and restricted further slide.

At the interbank foreign exchange market, the local unit opened 2 paise lower at 83.87 against the American currency.

It rose to the intra-day high of 83.85 but pared gains and slipped to the day’s low of 83.93.

The domestic unit finally settled at 83.91 against the US dollar, registering a decline of 6 paise over its previous close.

Meanwhile, in the domestic equity markets, Sensex climbed 194.07 points to settle at a new all-time closing high of 82,559.84, while Nifty rose 42.80 points to hit its fresh record peak of 25,278.70.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, dipped marginally by 0.06 per cent to 101.64.

India’s forex reserves jumped $7.023 billion to touch a new high of $681.688 billion in the week ended August 23, according to the Reserve Bank of India (RBI) data released on Friday.