MUMBAI: The Indian Rupee pared all its initial gains to settle lower by 2 paise at 81.80 (provisional) against the American Dollar on Monday, tracking a recovery in crude oil prices.
At the interbank foreign exchange, the domestic unit opened at 81.76 against the dollar and finally closed at 81.80 (provisional), down 2 paise from its previous close.
During the day, the rupee witnessed a high of 81.70 and a low of 81.82 against the greenback.
On Thursday, the rupee closed at 81.79 against the US currency.
The Dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.07 per cent to 101.13.
Brent crude futures, the global oil benchmark, advanced 1.93 per cent to USD 76.75 per barrel.
As India’s foreign exchange reserves jumped USD 4.532 billion to USD 588.78 billion for the week ending on April 28, the overall reserves have dropped USD 2.164 billion to USD 584.248 billion in the same period.