The rupee started off weaker against the U.S. dollar on March 5, declining by 2 paise to trade at 82.92. This fall was influenced by the strength of the American currency against its global counterparts and the outflow of foreign funds from Indian capital markets. Despite the downward trend in crude oil prices, the rupee was weighed down by the subdued sentiment in the equity market. The dollar index, which measures the dollar’s strength against other currencies, rose marginally to 103.81. Brent crude futures, the global oil benchmark, fell slightly to $82.66 per barrel.

In the domestic equity market, the BSE Sensex and NSE Nifty both showed a decline. The Sensex was trading 0.35% lower at 73,612.32 points, while the Nifty dropped 0.37% to 22,321.65 points.

Foreign institutional investors (FIIs) were net sellers on Monday, as they sold shares worth ₹564.06 crore, according to exchange data.