Rupee opens flat, increases 7 paise to 73.15 against US dollar at start of trade
This results from tracking the weakness of the US currency and positive domestic actions.
The Indian rupee opened on a flat note and edged up 7 pais to 73.15 against the US dollar early in Tuesday, following the weakness in the US currency and positive domestic actions.
At the interbank exchange rate, the domestic unit opened at 73.18 against the dollar, then rose 7 peas to 73.15 against the US dollar.
On Monday, the rupee stood at 73.22 against the US dollar.
The rupee started flat to stronger against the dollar, following the greenback’s weakness, Reliance Securities said in a research note.
Most Asian currencies are trading more against the dollar and could provide support, the note added.
Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.06% to 90.11.
“The US dollar index struggled against the basket of currencies on Tuesday morning in Asian trading due to renewed expectations that US interest rates will remain low for an extended period,” the note from Reliance Securities said.
Global oil benchmark Brent crude futures rose 0.35% to $ 69.70 per barrel.
On the domestic stock market front, BSE Sensex traded 477.6 points or 0.96% higher to 50,058.33, while the larger NSE Nifty jumped 148.35 points or 0.99% to 15,071.50.
Foreign institutional investors were net sellers in the capital market on Monday as they unloaded shares worth ₹ 2,255.84 crore, according to exchange data.