Rupee closes weaker at 86.8775 against US dollar

The rupee closed a tad weaker Monday at 86.8775 against the US greenback despite opening a gap stronger Monday tracking strength in other Asian currency market.

The local currency like most of its Asian peers shed the early gains.

It opened at 86.69 as compared with 86.8225 Friday. The day’s low was seen at 86.89.

“There was still no positive bias since sell off by foreign institutional investors in the equity market continues,” a foreign currency dealer said.

Overseas investors sold more than $11 billion in the local equity market on net basis till date in 2025.

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“The rupee’s negative bias could not be reversed till there is sustainable overseas inflows,” another dealer said.The rupee saw its record low at 87.95 against the dollar on February 10 and bounced back from that level with strong central bank interventions.Monday saw the benchmark equity index BSE Sensex closed barely 0.08% higher at 75996.86.

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