The Indian rupee depreciated 16 paise to close at 86.87 (provisional) against the US dollar on Monday, weighed down by significant foreign fund outflows and a recovery in the US dollar index from intraday lows. After eight successive days of losses, Indian stocks managed to close marginally up on Monday, but not before suffering an early setback and a continued struggle till well past mid afternoon. The benchmark BSE Sensex closed up 57.65 points or 0.08% at 75,996.86. The Sensex, which tumbled nearly 650 points to 75,294.75 in early trades, climbed to a high of 76,041.96 in the final hour. The broader Nifty50 of the National Stock Exchange settled with a gain of 30.25 points or 0.13% at 22,959.50, coming off an early low of 22,725.45. At the interbank foreign exchange, the rupee opened at 86.70 and touched the high of 86.68 against the greenback during intraday. It also touched the low of 86.88 before ending the session at 86.87 (provisional) against the dollar, logging a loss of 16 paise from its previous close.