The Indian rupee declined by 14 paise to settle at 76.53 (provisional) against the US dollar on Monday, amid strengthening of the American currency overseas and a sharp rise in coronavirus cases in the country.
Forex traders said a firm US dollar weighed on the local unit. Besides, investor sentiment remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.
At the interbank foreign exchange, the rupee opened strong at 76.43, but soon lost ground and finally settled at 76.53, registering a fall of 14 paise over its previous close.
During the session, the rupee witnessed high volatility and touched a high of 76.43 and a low of 76.68 against the US dollar. On Friday, the rupee had settled at 76.39 against the greenback.