Rupee liquidates 64 paise lower to 75.73 against the US dollar

MUMBAI: the Indian rupee depreciated by 64 paise to settle at 75.73 (provisional) against the American dollar on Monday, the follow-up of a strong liquidation in national variable income and a strengthening of the dollar abroad.

said the weakness in the local unit was largely due to heavy correction in domestic equities and strengthening of the American dollar .

In addition, the growing cases of coronavirus in the country also affected the local unit, they said.

The rupee opened weak at 75.70 at the interbank forex market and then lost further ground to finally end at 75.73, down 64 paise over its last close.

During the day, the household unit saw an intraday high of 75.65 and a low of 75.80.

It had been set at 75.09 against the United States on Thursday.

The forex market closed on Friday because of Maharashtra Day.

The national stock markets traded with significant losses with the reference sensex falling 1,891.69 points at 31,825.93 and Nifty falling 540.75 points at 9,319.15.

The dollar index, which measures the strength of the dollar against a basket of six currencies, rose 0.27 percent to 99.35.