Rupee falls 6 paise to 74.26 towards US greenback in early commerce

The Indian rupee slumped 6 paise to 74.26 towards the US greenback in opening commerce on Monday as agency crude oil costs weighed on investor sentiment.
At the interbank international trade, the rupee opened decrease at 74.24 towards the greenback, then fell additional to 74.26, registering a fall of 6 paise over its earlier shut.
On Friday, the rupee had settled at 74.20 towards the US greenback.
“The apparent risk for the rupee this week is persistently higher crude oil prices. That, coupled with the market expectations for a slightly stronger dollar in the short run, will continue to weigh on the local unit,” Reliance Securities mentioned in a analysis word.
Global oil benchmark Brent crude futures down 0.22 per cent to $76.01 per barrel.
Asian currencies have began flat to marginally weaker towards the dollar this morning and will cap appreciation bias, the word added.
Meanwhile, the greenback index, which gauges the dollar’s power towards a basket of six currencies, was buying and selling 0.02 per cent up at 91.86.
On the home fairness market entrance, BSE Sensex was buying and selling 39.17 factors or 0.07 per cent decrease at 52,885.87, whereas the broader NSE Nifty declined 6.85 factors or 0.04 per cent to fifteen,853.50.
Foreign institutional buyers had been web sellers within the capital market on Friday as they offloaded shares value Rs 678.84 crore, as per trade knowledge.