Rupee falls 17 paise to 95.59 against US dollar as FCNR swap deadline weighs down sentiment

The Indian rupee fell against the US dollar at the start of Monday, influenced by the Reserve Bank of India’s move to advance a deposit swap deadline. While the bank had previously drawn in substantial foreign currency, analysts predict temporary support for the rupee, though overall weakness is expected. Additionally, domestic stock markets recorded a drop early in the trading session.