The remained steady at 82.35 vs dollar on Monday supported by easing of greenback against six other peers overseas. However, rise in crude oil benchmarks yielded pressure on the currency.

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The dollar index — which measures the greenback against a basket of six currencies — was 0.2 percent down at 112.9 at the last count.

Crude oil prices jumped on Monday. Brent crude futures were trading 0.8 percent lower at $92.4 per barrel at the last count. WTI futures were trading flat at $85.2 per barrel at the last count.

"As per market reports, the banker’s bank- RBI seems busy managing the NDF market chaos as recently near term forward premiums gap between onshore and NDF was seen rising and any intervention in the domestic market was not translating fully over rupee," said Amit Pabari, Managing Director at CR Forex.

"It will be interesting to see how RBI plays its card as rupee is just away by 30 paise from an all-time low. Surely, pressure mounts over rupee to test another low and move towards 83.50-84 once it breaches 82.10-82.90 consolidation phase. On the flip side, appreciation seems limited upto 82.10 to maximum 81.80 levels," Pabari said.

Indian equity benchmarks Sensex and Nifty50 opened lower on Monday dragged by losses in oil & gas, metal and financial shares.

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First Published:Oct 17, 2022 10:10 AM IST