Rupee falls 15 paise to 82.77 against US dollar

Rupee depreciates 15 paise to 82.77 vs US dollar on Monday due to firm crude oil prices. Dollar index falls 0.06% to 104.17. Services PMI & factory orders from US to be watched. Brent crude rises 0.01% to $88.56/barrel. Sensex up 0.21% & Nifty up 0.29%. FIIs net buyers, forex reserves down $30 mn to $594.858 bn.

The rupee depreciated 15 paise to 82.77 against the U.S. dollar in early trade on Monday as firm crude oil prices weighed on investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 82.71, then touched 82.77, registering a decline of 15 paise over its last close.

On Friday, the rupee had settled at 82.62 against the dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.06% to 104.17.

"This week, services PMI and factory orders number from the US will be important to watch. Better-than-expected data could lift the dollar further higher," said Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services.

Somaiya further said, "We expect the USDINR (Spot) to trade sideways with a negative bias and quote in the range of 82.30 and 82.80."

Brent crude futures, the global oil benchmark, rose 0.01% to $88.56 per barrel on tighter supply outlook.