On Monday, the rupee lost 10 paise to settle at 82.31 (provisional) against the U.S. dollar as investor mood was dampened by the robust foreign exchange performance of the U.S. dollar and high crude oil prices.
The rupee depreciated by 10 paise from its prior close of 82.21 to 82.31 (provisional) on the interbank foreign exchange market. It had started off at 82.44 versus the dollar when it opened.
The dollar index, which measures the value of the dollar against a basket of six different currencies, was trading 0.8% higher at 102.58. Brent crude futures, the international benchmark for crude oil, increased 5.28% to USD 84.11 a barrel.
Ahead of this week’s RBI monetary policy announcement and US jobs market report, investors are expected to exercise caution.
The RBI’s rate-setting panel began its three-day meeting on Monday amid speculation that the central bank could seek a 25 basis point increase in the benchmark interest rate, which would likely be the final one in the current cycle of monetary tightening that started in May 2022.
