Indian rupee ended 20 paise lower at 75.01 per dollar, amid selling seen in the domestic equity market.
It opened lower at 74.90 per dollar against previous close of 74.81 and traded in the range of 74.88-75.03.
At 12:54 IST, the Sensex was down 523.11 points or 1.39% at 37083.78, and the Nifty was down 140.80 points or 1.27% at 10932.70.
The US dollar ticked up in early Monday trade, clinging to its rebound late last week, but mounting concerns about a slowing US economic recovery from coronavirus epidemic kept a lid on gains.
Oil prices fell on Monday on concerns about oversupply as OPEC and its allies, together known as OPEC+, are due to pull back from production cuts in August while an increase in COVID-19 cases worldwide raised fears of slower pick-up in fuel demand.
As the Dollar index fell to two-year low and moved towards May 2018 low, we feel the rupee will appreciate and is likely to move towards 74.50 levels, said ICICIdirect.
The dollar-rupee contract on the NSE was at 75.00 in the last session. The open interest increased 1.14% in the last session, it added.
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