Traders may remain cautious ahead of RBI's monetary policy and US inflation data Thursday. RBI is expected to keep its monetary policy unchanged. Traders may also watch out for US trade balance data. "We expect the USDINR spot to trade in the range of 82.40 to 83.30 in the near-term," Choudhary added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.41 per cent to 102.46.
Brent crude futures, the global oil benchmark, declined by 1.73 per cent to $83.86 per barrel.
On the domestic equity market front, the 30-share BSE Sensex closed 106.98 points or 0.16 per cent lower at 65,846.50 points. The broader NSE Nifty declined 26.45 points or 0.13 per cent to close at 19,570.85 points.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth Rs 1,892.77 crore, according to exchange data.
Published 08 August 2023, 11:25 IST