Rupee depreciates 10 paise against US Dollar; falls below 71 mark

In highly volatile trade, the local currency also touched a high of 70.75 per US dollar, showing a rise of 17 paise over its last close.

The rupee Monday plunged 43 paise to close at nearly one-month low of 70.92 against the US dollar.

Foreign funds pulled out Rs 732.46 crore from the capital markets on a net basis, while domestic institutional investors purchased shares worth Rs 527.49 crore Monday, provisional data showed.

The benchmark BSE Sensex was trading with gains of 296.15 points, or 0.83 per cent to quote at 35,149.71 while the NSE Nifty was trading at 10,785.25, up 47.65 points, or 0.46 per cent.

Meanwhile, brent crude, the global benchmark, was trading lower at 59.68 per barrel higher by 1.17 per cent.

Forex traders said the strength of the US dollar against other currencies weighed on the domestic unit. On the other hand, heavy buying in domestic equities supported the rupee.