By laksh5382 
Rupee It failed to recover from its all-time low and settled at 85.04 against the US dollar in early trade on Monday, tracking the US currency’s strength and uninterrupted outflows of foreign funds.
Forex traders said the rupee remained weak on strong demand for the dollar amid higher crude oil prices due to volatile geopolitical situation, although positive sentiment in domestic equity markets supported the local unit at lower levels.
He said the dollar index is expected to remain higher in the near term amid fears of a delay in interest rate cuts by the US Federal Reserve in 2025.
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At the interbank foreign exchange, the rupee opened at 85.02 and slipped against its previous session’s closing level of 85.04 against the greenback.
On Friday, the rupee witnessed some recovery from its all-time low and closed 9 paise higher at 85.04 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.13 percent higher at 107.49.
Global oil benchmark Brent crude rose 0.47 percent to $73.28 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 543.48 points or 0.70 per cent higher at 78,585.07. Nifty was up 186.10 points or 0.79 percent at 23,773.60.
Foreign Institutional Investor (FII) There were net sellers in the capital market on Friday as they sold shares worth ₹3,597.82 crore, according to exchange data.
Latest RBI data on Friday showed that India’s foreign exchange reserves declined by $1.988 billion to $652.869 billion for the week ended December 13. In the previous week, total reserves had declined by $3.235 billion to $654.857 billion.