NRI Alert: Indian rupee slips below 75 against dollar

Dubai - High oil prices, drop in Indian equities weigh on rupee

The Indian rupee fell below 75 against the US dollar on Monday morning, impacted by high oil prices and a drop in the Indian equity markets.

Rupee depreciated 14 paise to 75.04 against the greenback (20.44 versus the UAE dirham) at the opening of the market on the first trading day of the week.

At the Indian interbank foreign exchange, the rupee opened on a weak note at 74.98, then fell further to 75.04, registering a decline of 14 paise from the last close.

On Friday, the rupee had closed at 74.90 against the US dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12 per cent to 93.53.

Global oil benchmark Brent crude futures advanced 0.80 per cent to $86.21 per barrel.

On the Indian equity market front, the 30-share Sensex was trading 229.08 points or 0.38 per cent lower at 60,592.54, while the broader NSE Nifty was trading 98.55 points or 0.54 per cent lower at 18,016.35.

(With inputs from PTI)

• India