In the morning session on Monday, the Indian rupee was trading in a limited range against the UAE Dirham as positive sentiment over the equities increased and erasing crude oil prices were partly negated by a more robust American currency.
At the Indian interbank foreign exchange, the rupee unrolled at 82.08 against the dollar (22.36 against Dirham). It affected an early high of 82.05 in initial deals.
However, the rupee on Friday settled at 82.06 against the dollar.
Meanwhile, the dollar index, which reduced the strength of the greenback against a box of currencies, was trading at 101.8, down to 0.02 per cent.
Global oil benchmark Brent crude futures decreased 0.92 per cent to $80.91 per barrel.
On the Indian equity market front, BSE Sensex was trading 86.9 points or 0.15 per cent higher at 59,741.96 points, while the broader NSE Nifty increased 28.95 points or 0.16 per cent to 17,653 points.
Forex traders said significant foreign fund outflows reduced investor sentiments and weighed the rupee.
According to the exchange data, the foreign institutional investors were net sellers in the capital on Friday as they offloaded shares worth Rs 21.16 billion.
Amir Pabari, managing director of CF Firex Advisors, said that the widening trade deficiency, low forward premium, and predictions of a couple more increases by the US Fed would keep the momentum of the rupees on the depreciating side.
