By laksh5382 
Rupee Recovering from its all-time low, it closed 6 paise higher at 84.40 (provisional) against the US dollar on Monday, supported by a decline in the American currency.
The local unit’s recovery was limited by unabated outflows of foreign funds amid rising crude oil prices along with weak sentiment in domestic equity markets, forex traders said.
At the interbank foreign exchange, the rupee opened at 84.42 and touched an intra-day high of 84.37 against the greenback during the session. It finally closed at 84.40 (provisional) against the dollar, 6 paise higher than its previous close.
On Thursday, the rupee fell 7 paise to close at an all-time low of 84.46 against the US dollar.
The foreign exchange market was closed on Friday on the occasion of Guru Nanak Jayanti.
“Lack of selling activity by FIIs in recent days helped the rupee maintain this modest support, along with expectations that selling pressure due to the upcoming state elections in Maharashtra will remain limited.
“The rupee is expected to take support in the range of 84.45-84.52, while resistance is expected around 84.25-84.30,” said Jatin Trivedi, VP Research Analyst – Commodity & Currency, LKP Securities.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06 percent lower at 106.55.
Global oil benchmark Brent crude rose 0.79 per cent to US$71.60 per barrel in futures trade.
In the domestic equity market, the 30-share BSE Sensex fell 241.30 points, or 0.31 percent, to close at 77,339.01, while the Nifty fell 78.90 points, or 0.34 percent, to close at 23,453.80.
Foreign institutional investors (FIIs) were net sellers in the capital market on Thursday as they sold shares worth ₹1,849.87 crore, according to exchange data.
On the domestic macroeconomic front, India’s merchandise exports in October grew by an impressive 17.25 per cent year-on-year, the highest in two years, to $39.2 billion, while the trade deficit widened to $27.14 billion on a sequential basis. The latest government figures were released on Thursday.
Meanwhile, the Reserve Bank of India on Friday said the country’s foreign exchange reserves declined by $6.477 billion to $675.653 billion in the week ended November 8.