Indian Rupee Weakens Against U.S. Dollar

The Indian rupee weakened by 23 paise against the U.S. dollar to close at 82.73 on Monday.

The local currency depreciated by about 22 paise against the greenback to 82.72 at the open. Intraday, it depreciated to as much as 82.78.

It had closed at 82.50 on Friday.

"Looking ahead, the Indian rupee could likely open weaker against the dollar on Monday, tracking losses in Asian currencies and equity on concerns over the U.S. interest rate outlook," Reliance Securities Ltd. said.

The brokerage predicted that the currency could open at around 82.6000 to 82.6500, compared with 82.4975 in the previous session.

"Supports for the USD-INR spot pair are at 82.3500 and 82.2000; resistances are at 82.7000 and 82.8000, and the pair could remain within the levels this Monday," it said.