MUMBAI: The rupee weakened by 11 paise to end 71.34 against the US dollar on Monday amid firming crude oil prices and persistent foreign fund outflows. Heavy selling in domestic equity markets also weighed on the rupee, forex traders said. This is the fourth straight session of loss for the domestic currency, during which it has depreciated by 64 paise.
At the Interbank Foreign Exchange (forex) market, the domestic unit opened weak at 71.35 and declined further to 71.52. However, it covered some lost ground and finally ended at 71.34, down by 11 paise against its previous close. The rupee had dropped 7 paise against the greenback Friday at 71.23. Foreign portfolio investors (FPIs) remained sellers in Indian capital markets selling shares worth Rs 1,239.79 crore on a net basis Monday.
