Weak domestic indices and persistent foreign funds outflows influenced investors sentiments leading to the Rupee slipping 19 paise to 82.38 against US Dollar in the early trade on Monday.
At the interbank foreign exchange, the Indian currency opened lower at 82.33 against the US dollar, then lost further ground to touch 82.38, recording a fall of 19 paise over its previous close, says a PTI report.
In the previous session on Friday, the Rupee had settled at 82.19 against the greenback.
The Dollar Index, which measures the greenback’s strength against a basket of six currencies, fell 0.27 per cent to 113.01.
Foreign Institutional Investors were the net sellers in the capital markets as they offloaded shares worth Rs 1011.23 crore on Friday, according to the Exchange data.
FIIs have pulled out Rs 7500 crore from the Indian equity markets in the first two weeks of October due to concerns over the monetary policy tightening by the US Federal Reserve and other central banks globally which might hamper global economic growth.
Meanwhile, the Finance Minister Nirmala Sitharaman has defended the 8 per cent slide in the value of the Indian currency against the Greenback this year saying that it is not the Rupee that has not weakened but the US dollar has strengthened.
