NEW DELHI: The rupee pared its initial losses to settle marginally up by 1 paisa at 74.87 (provisional) against the US dollar on Monday following a firm trend in the domestic equities.
At the interbank foreign exchange market, the domestic unit opened on a weak note and slipped below the 75 per dollar mark, report agencies.
On Friday, the rupee had closed at 74.88 against the US dollar.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.02 per cent to 94.14.
On the domestic equity market front, the BSE Sensex settled 831.53 points or 1.40 per cent higher at 60,138.46, while the NSE Nifty closed 258.00 points or 1.46 per cent higher at 17,929.65.
Moreover, foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 5,142.63 crore, as per exchange data.
Brent crude futures, the global oil benchmark, advanced 0.81 per cent to USD 84.40 per barrel.