Rupee falls 17 paise against US dollar as FCNR swap deadline weighs down sentiment

Photo / Illustration: Haldwani Times News Desk

The Indian rupee fell against the US dollar at the start of Monday, influenced by the Reserve Bank of India's move to advance a deposit swap deadline. While the bank had previously drawn in substantial foreign currency, analysts predict temporary support for the rupee, though overall weakness is expected. Additionally, domestic stock markets recorded a drop early in the trading session.