The Indian rupee declined 8 paise to 95.25 against the US dollar in early trade on Monday, pressured by a stronger dollar and elevated global crude oil prices.
However, foreign institutional investor (FII) inflows and an increase in India’s forex reserves provided some support to the domestic currency and limited its losses, forex traders said.
At the interbank foreign exchange, the rupee opened at 95.18 per US dollar before weakening further to 95.25, down 8 paise from its previous close.