On Friday, the rupee closed at a record low of 79.05 against the US dollar, down from Thursday's close of 78.97.
Digital Desk: In early trading on Monday, the rupee decreased to about 79 against the US dollar. This came as worries about continuing inflation and ongoing withdrawals of foreign funds increased.
According to a PTI report, the rupee started off Monday's interbank forex market 5 paise lower than the dollar at 78.99.
On Friday, the rupee closed at a record low of 79.05 against the US dollar, down from Thursday's close of 78.97.
Meanwhile, the stock markets were tranquil on Monday. The Sensex dropped 6.82 points, or 0.01 percent, to 52,901.11. The Nifty fell 16.95 points, or 0.11 percent, to 15,735.10.
As the world's second-largest consumer of precious metal works to reduce demand and close the trade deficit, the federal government last week increased its basic import duty on gold from 7.5 to 12.5%, government announced on Friday.
The majority of India's gold demands are imported. The rupee, which earlier on Friday hit a record low, has been under pressure as a result.
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