Rupee settles 8p lower at 90.74 against dollar

NEW DELHI: The rupee fell 8 paise to settle at 90.74 against the US dollar on Monday, weighed down by a strong American currency and foreign fund outflows. According to forex traders, lower crude oil prices and positive domestic equity markets capped a sharp fall in the Indian currency. On Friday, the rupee depreciated 5 paise to settle at 90.66. Jateen Trivedi of LKP Securities said the rupee traded largely flat as market participants remained cautious, while recovery in the secondary market helped stabilise the currency. Brent crude was trading 0.47% lower at $67.43 per barrel in futures trade.