The Indian rupee depreciated sharply against the U.S. dollar on Monday.
The local currency opened 0.7% or 57 paise weaker at 82.41, compared to Friday's close of 81.84.
Intraday, the currency depreciated by as much as 1.12% or 91 paise to 82.75. It ended the day 1.1% lower at 82.74.
"The U.S. dollar index edged higher on Friday amid better-than-expected jobs data from the U.S., potentially giving the Federal Reserve more leeway to keep hiking interest rates," ICICI Direct said in a daily currency strategy report.
"The unemployment rate in the US inched lower to 3.4% in January 2023, the lowest level since May 1969 and below market expectations of 3.6%. Further, a rise in US 10-year treasury yields supports the dollar."
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