India News | Rupee Inches 8 Paise Higher to 73.75 Against US Dollar in Early Trade
Get latest articles and stories on India at LatestLY. The Indian rupee appreciated 8 paise to 73.75 against the US dollar in opening trade on Tuesday, tracking positive domestic equities.
Mumbai, Sep 28 (PTI) The Indian rupee appreciated 8 paise to 73.75 against the US dollar in opening trade on Tuesday, tracking positive domestic equities.
Forex traders said rupee is trading in a narrow range as weakness of Asian currencies, firm crude oil prices and strong dollar weighed on the domestic unit.
Also Read | India Records 18,795 New COVID-19 Cases, 179 Deaths in Past 24 Hours; Recovery Rate at 97.81%.
At the interbank foreign exchange, the rupee opened at 73.79 against the dollar, then edged higher to 73.75, up 8 paise over its previous close.
On Monday, the rupee had settled at 73.83 against the US dollar.
Also Read | Samsung Galaxy M52 5G To Be Launched Today in India, Check Expected Price & Other Details Here.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.06 per cent to 93.44.
The Indian rupee opened on a flat note this Tuesday morning against the dollar, tracking the strength of the greenback and strong crude oil prices, Reliance Securities said in a research note.
Moreover, most emerging market and Asian currencies have started weaker this Tuesday morning and will weigh on sentiments, the note added.
Meanwhile, foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 594.63 crore, as per exchange data.
On the domestic equity market front, BSE Sensex was trading 16.19 points or 0.03 per cent higher at 60,094.07, while the broader NSE Nifty advanced 24.75 points or 0.14 per cent to 17,879.85.
Meanwhile, global oil benchmark Brent crude futures rose 0.79 per cent to USD 80.16 per barrel.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)