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Indian Rupee Reverses Early Gains, Declines Against The U.S. Dollar
The rupee had hit a record low of 83.29 on Oct. 20.
14 Nov 2022, 09:26 AM IST 
Close view of an Indian Rs 500 bank note. (Source: Usha Kunji/BQ Prime)
The Indian rupee depreciated after registering gains against the U.S. dollar on Monday.
The local currency opened at 80.55, appreciating 0.34%, or 27 paise. It had closed at 80.82 on Friday.
However, during the day's trade, the rupee reversed all its gains to depreciate by as much as 0.56%, or 45 paise, to 81.27.
At close, the rupee traded 0.54% lower, or 44 paise, at 81.26.
"The U.S. dollar extended its fall by 1.41% on Friday amid a rise in risk appetite in global markets ... Moreover, weaker than expected Michigan consumer sentiment data from the U.S. pressurised the dollar," ICICI Securities said in a note on Monday.
The rupee had hit a record low of 83.29 on Oct. 20.
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