The Indian rupee weakened by 7 paise, reaching 83.13 against the US dollar due to steady crude oil rates and foreign investment outflows. Opening at 83.10 compared to the previous close of 83.06, the rupee faced pressure from global factors.
Despite a minor dip in the US dollar and positive equity market vibes, the rupee struggled. On the global front, Brent crude, a key oil benchmark, inched up to $78.08 per barrel.
The domestic stock market also saw a slight decline. Foreign Institutional Investors (FIIs) were net sellers, while Domestic Institutional Investors (DIIs) made net purchases on Monday.