Indian rupee under renewed pressure, dips 14 paise to 75.04 against dollar

Mumbai: The Indian rupee declined by 14 paise to 75.04 against the US dollar in opening inter-bank trades on Monday, weighed down by the firming up in crude oil prices and a muted trend in domestic stock markets. At the 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 dollar. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12 per cent to 93.53. The global oil benchmark Brent crude futures advanced 0.80 per cent to $86.21 per barrel.

On the domestic 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.