The rupee fell by 8 paise to close at 84.74 against the US dollar in Mumbai, on December 9.
The rupee depreciated by 8 paise to close at 84.74 (interim) against the US dollar on Monday, dragged down by fresh foreign fund outflows and muted trend in domestic stocks.
Forex dealers say the rupee remains in a weak position due to demand for the dollar from importers and foreign banks.
On the interbank foreign exchange, the rupee opened at 84.70 and touched a record low of 84.73 against the greenback during intra-day trade. The unit ended the session at 84.74 (temporary) against the dollar, recording an 8-stop fall over its previous close.
On Friday, the rupee appreciated by 5 paise to settle at 84.66 against the US dollar.
On December 4, the rupee had depreciated to 84.76 (temporary) against the US dollar.
The dollar index, which measures the greenback’s strength against a basket of six currencies, was trading 0.09 percent lower at 105.96.
Brent crude, the global oil benchmark, rose 0.89 percent to USD 71.75 per barrel in futures trading.
Forex dealers said that after RBI’s monetary policy announcement, investors will wait for Industrial Production (IIP) and CPI data for further signals.
The Reserve Bank of India on Friday kept its key interest rate unchanged citing inflationary risks, but lowered the Cash Reserve Ratio that banks must park with the central bank, raising money and lenders to support a slowing economy.
On the domestic equity market front, the benchmark 30-share index Sensex closed 200.66 points, or 0.25 percent lower, at 81,508.46 points. The Nifty fell 58.80 points, or 0.24 percent, to 24,619.00 points.
Foreign Institutional Investors (FIIs) withdrew Rs 1,830.31 crore from capital markets on a net basis on Friday, according to exchange data.
Meanwhile, India’s forex reserves increased by USD 1.51 billion to USD 658.091 billion in the week ended November 29, the RBI said on Friday.
Total reserves decreased by USD 1.31 billion to USD 656.582 billion in the previous reporting week.
