Mumbai: The rupee dropped 36 paise to 73.93 against the US currency in early trade on Monday, breaking its three-day recovery trend, as crude prices rose amid weak macro economic data.
A spurt in dollar demand from importers amid sustained foreign fund outflows also weighed on the rupee. Dealers said, factors like the dollar’s strength against some other currencies overseas and a volatile opening of the equity markets also impacted the domestic currency.
Industrial production slipped to a three-month low of 4.3 per cent in August and retail inflation rose marginally to 3.77 per cent in September, according to the data released by Central Statistics Office on Friday.
On Friday, the rupee had ended 55 paise higher at 73.57 against the dollar, as global crude prices eased and domestic indices staged a smart rebound. (PTI)
