Rupee depreciates four paise v/s US dollar to end at 61.40

The Indian rupee on Monday depreciated by four paise to close at 61.40 against the Greenback on moderate dollar demand from importers, amid some hesitancy in equities. A better dollar overseas also weighed on the rupee while sustained capital inflows restricted the rupee fall.

At the Interbank Foreign Exchange (Forex) market, the rupee commenced lower at 61.50 a dollar from its previous close of 61.36. It moved in a range of 61.3750 and 61.5550 before concluding at 61.40, a fall of 4 paise or 0.07%.

The Indian benchmark S&P BSE Sensex, after logging its all-time peak, closed down by a mere over 5 points. FPIs/FIIs bought shares worth US $310.50 million last weekend as per Sebi data. On Monday, they bought a net Rs 1,413.34 crore. The dollar index was trading up by 0.03% against its major global rivals.

Pramit Brahmbhatt, Veracity Group CEO, said: "Rupee traded range-bound and ended almost flat near previous close.

It is expected to appreciate in coming days tracking gains in local equities. The trading range for the spot rupee is expected to be within 61.00 to 61.80."