The rupee fell by as much as 22 paise to touch 79.45 against the US dollar on Monday as dollar held ground, and domestic equities started the session flat. Crude oil prices dropped to multi-months low, before recovering slightly, in a choppy trade.

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On Friday, rupee appreciated 31 paise to 79.15 after Reserve Bank of India (RBI) Governor Shaktikanta Das announced a 50 basis-point hike in the repo rate — the key rate at which it lends money to commercial banks.

The domestic currency settled at 79.23 in the previous session.

The dollar index — which measures the US dollar against a basket of currencies — climbed 0.2 percent.

Crude oil prices rebounded on Monday after touching multi months low of earlier in the session amid recession fears and China's reduced crude oil imports.

Brent crude futures climbed 0.8 percent to $95.7 a barrel, not far from multi-month low of $93.9 and West Texas Intermediate (WTI) futures were 0.7 percent up at $89.6 a barrel.

Indian equity benchmarks opened flat on Monday tracing losses across global markets.

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First Published:Aug 8, 2022 10:03 AM IST