Rupee vs Dollar: Indian currency weakens 38 paise to 81.78 against $ to start October on negative note

Rupee vs Dollar Today: The rupee fell sharply against the American dollar on Monday in early trade, tracking a muted trend in domestic equities and risk-off sentiment among investors. The Indian currency weakened 38 paise to 81.78 against the US dollar amid surging crude prices, according to a PTI report.

At the interbank foreign exchange, the local currency opened weak at 81.65 against the dollar, then lost further ground to quote at 81.78, registering a loss of 38 paise over its previous close.

The rupee settled 33 paise higher at 81.40 against the dollar on Friday.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.04 per cent to 112.08.

Brent crude futures, the global oil benchmark, surged 2.77 per cent to USD 87.50 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 66.60 points or 0.12 per cent lower at 57,360.32, and the broader NSE Nifty fell 12.90 points or 0.08 per cent to 17,081.45.

After infusing funds in the last two months, foreign investors turned sellers again in September, and pulled out Rs 7,600 crore from the Indian equity markets amid a hawkish stance by the US Fed and sharp depreciation in the rupee.