Rupee Depreciates Against US Dollar, Sensex Opens Lower In Morning Trade

Rupee opened lower in morning trade against US Dollar on Monday. Rupee registered a dip of 5.5 paise or 0.07% to 82.39 against US Dollar in opening trade, as per Bloomberg data. The currency is currently trading 0.03% lower at 82.38 at 9:33 am.

Earlier, Finance Minister Nirmala Sitharaman has said that the Indian rupee is holding ground at a time when dollar has gained strength, emphasizing that the fundamentals of India's economy is strong and the inflation is low compared to other parts of the world, according to a PTI report.

"The fundamentals of the Indian economy are good, macroeconomic fundamentals are good. The foreign exchange reserve is good. This is what I keep repeating that inflation is also at a manageable level," Sitharaman said.

Meanwhile, BSE Sensex fell 159 points to 57760 and NSE Nifty shed 53 point to 17132 in morning trade. JSW Steel Ltd, Adani Enterprises Ltd, and Tata Steel Ltd fell over 1% in morning trade.