Rupee declines 9 paise to 82.05 against dollar amid geopolitical worries

The rupee fell 9 pounds to close at 82.04 (temporary) against the US dollar on Monday amid geopolitical concerns and the stability of crude oil prices.

Analysts said volatility in stock markets and outflows from the fishery sector also affected market sentiment.

After opening lower, the rupee rebounded to a daily high of 81.94 in morning trade amid early gains in stocks and dollar weakness in overseas markets.

However, the local currency pulled back from early highs amid volatile stock markets and touched as low as 82.05 in the afternoon in the interbank foreign exchange market.

The rupee closed at its lowest level of the day at 82.05, which indicates a loss of 9 pounds from the previous close at 81.96 against the US dollar.

Analysts said geopolitical concerns after a short-lived armed insurgency in Russia undermined the appeal of riskier assets.

The dollar index fell 0.15 percent to 102.75.

Brent crude, the benchmark for crude oil prices, rose 0.53 percent to $74.24 a barrel.

BSE Sensex pulls back from early highs To close almost stable at 62,970, with a loss of 9.37 points. Nifty advanced 25.70 points to close at 18691.20.

Foreign Portfolio Investors (FPIs) were net sellers in the capital market on Friday unloading shares worth Rs 344.81 crore, according to exchange data.