The rupee gave up early gains to close 6 paise down at 87.58 (provisional) against the US dollar on Monday, pressured by a stronger greenback and a rebound in crude oil prices.
According to forex traders, investor sentiment remained cautious ahead of the August 27 tariff deadline and key US economic data releases, which could guide the Federal Reserve’s policy decision on September 17.
At the interbank foreign exchange market, the domestic currency opened firm at 87.38, hit a day’s high of 87.34, and slipped to an intraday low of 87.61 before settling weaker.