Mumbai: The rupee pared early morning gains to settle down by 6 paise at 71.84 against the US currency on Monday due to continued forex outflows and gains in the dollar in global markets.Forex traders said investor traded cautiously after domestic equity market also shed its morning gains and witnessed selling pressure during the day.The 30-share index, which opened on a firm note, turned negative in the afternoon session before ending 72.50 points, or 0.18 per cent, down at 40,284.19. Similarly, the broader NSE Nifty slipped 10.95 points, or 0.09 per cent, to end at 11,884.50.At the interbank foreign exchange market, the rupee had opened at 71.67 against the US dollar. Later, the local unit lost ground and fell to the day's low of 71.86.The domestic unit finally settled at 71.84, lower by 6 paise over the previous closing price. On Friday the rupee had settled at 71.78 against the American currency. The reference rate for rupee/British pound was fixed at 92.36 and for rupee/100 Japanese yen at 66.04.

Source: Economic Times November 18, 2019 12:00 UTC