The depreciating Indian currency maintained its downward trend against the US dollar on Monday, plunging to fresh lows. After early activity on the day, the Indian rupee is currently trading at 77.47 vs the US dollar.
The rupee resumed its downward trend from Friday, when it fell 55 paise to close at 76.90 against the US dollar. The rise in crude oil prices has contributed to the drop.
The strength of the American dollar in the international market, as well as continuous outflows of foreign funds, are used to assess the Indian rupee.
According to stock exchange data, net sellers in the capital market on Friday were offshore institutional investors, who sold shares worth Rs 5,517.08 crore.
