The Indian rupee fell 14 pounds to 75.04 against the US dollar at the opening of trading on Monday, dragging down flat crude oil prices and a muted trend in local stocks.

In interbank foreign exchange, the rupee opened on a weak note at 74.98, then fell further to 75.04, recording a drop of 14 pounds from the last close.

On Friday, the rupee closed at 74.90 against the US dollar.

Meanwhile, the dollar index, which measures the dollar’s strength against a basket of six currencies, fell 0.12 percent to 93.53.

Brent crude futures, the global benchmark, rose 0.80 percent to $86.21 a barrel.

Moreover, foreign institutional investors were net sellers in the capital market on Friday offloading shares worth Rs 2,697.70 crore, according to exchange data.

On the local stock market front, the 30-share Sensex traded 229.08 points, or 0.38 percent, at 60,592.54, while the broader NSE Nifty was trading 98.55 points, or 0.54 percent, at 18016.35.

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