Rupee Loses Ground Against Dollar Amid Stronger Greenback

The Indian rupee started Monday trading at 95.18 against the US dollar but quickly slipped to 95.25, down 8 paise from its previous close.

This decline was largely due to a stronger greenback and an increase in global crude oil prices, according to experts.

However, FII inflows and a rise in India's foreign exchange reserves helped cap the rupee's fall.

Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, noted that 'exporters may sell upticks up to 95.40 on Monday while importers are likely to buy dips at 95.'