The rupee on Tuesday advanced 37 paise to 81.30 against the US dollar in early trade on Tuesday due to weakness in the US currency.
New Delhi: The rupee on Tuesday advanced 37 paise to 81.30 against the US dollar in early trade on Tuesday due to weakness in the US currency.
In the interbank foreign exchange market, the rupee opened at 81.45 against the dollar and rose to 81.30. Thus the rupee registered a gain of 37 paise over the previous closing price.
Let us tell you, the rupee had lost 58 paise against the dollar on Monday and closed at an all-time low of 81.67.
According to experts, the focus is now on the outcome of the RBI’s monetary committee meeting this week. The results of the meeting will be announced on Friday. Most Asian and emerging market peers have started mixed, but a positive start in the equity futures could aid sentiments. The dollar index was marginally weaker, while the Euro, Sterling and the Yen strengthened against the greenback in this Tuesday morning trade,” Iyer said.
Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, fell 0.36 per cent to 113.69. Global oil benchmark Brent crude futures were up 0.57 per cent at $84.54 per barrel.In the domestic equity market, the 30-share BSE Sensex was trading 176.91 points or 0.31 per cent up at 57,322.13 and the broader NSE Nifty rose 55.95 points or 0.33 per cent to 17,072.25.
Foreign institutional investors (FIIs) sold shares worth a net Rs 5,101.30 crore on Monday, according to provisional stock market data.