The rupee has depreciated 22 paise against US dollar in early trade on Monday. The rupee fall is in response as sentiments of investors saturated due to weak macroeconomic data and uncertainties rising between US-China.
The rupee opened weak at 79.50 at the interbank foreign exchange, against the US dollar and then rose to 79.46 gaining some ground to quote at initial deals, however registered a total decline of 22 paise over the last close.
The rupee fall to 79.46 against the US dollar tracking the strength of the American currency and continuous foreign fund outflows. A much stronger-than-expected US employment report on Friday lifted the prospect of the FED maintaining its fierce monetary policy. This factor tinkered a role in Wall Street ending going down on Friday and the Asian markets following the lead. Nikkei and Chinese indices commenced in red on Monday.
Meanwhile, Oil rose up an early decline at the week’s open to trade flat as investors raised up prospects for demand ahead of a barrage of intelligence from directing energy players on the market expectation.
Meanwhile, in the domestic equity front, the 30-share Sensex was trading 70.74 points or 0.12 per cent lower at 58,317.19, while the extensive NSE Nifty fell 24.30 points or 0.14 per cent to 17,373.20.