The rupee opened lower at 76.05 against the US dollar, down 14 paise from its previous close
The rupee opened lower at 76.05 against the US dollar, down 14 paise from its previous close
The rupee fell 14 paise to 76.05 against the US dollar in opening trade on Tuesday, on strengthening the US currency in overseas markets and a negative trend in domestic stocks.
On the interbank forex exchange, the rupee opened lower at 76.05 against the US dollar, down 14 paise from its previous close.
On Monday, the rupee edged up to 75.91 against the US dollar.
“Most Asian and emerging market peers are trading weaker against the US dollar this Tuesday morning and the recovery in crude oil prices could weigh on sentiment,” said Sriram Iyer, senior research analyst at Reliance Securities.
However, the big trigger for the markets will be Indian and US CPI inflation data, noted Mr. Iyer.
Global oil benchmark Brent crude futures rose 1.73% to $100.18 a barrel.
Meanwhile, the dollar index, which measures the dollar’s strength against a basket of six currencies, rose 0.07% to 99.99.
On the domestic stockmarket front, the 30-piece Sensex was down 479.46 points, or 0.81%, to 58,485.11, while the broader NSE Nifty was down 172.75 points, or 0.98%, to 17,502.20.
Foreign institutional investors remained net sellers in the capital market on Monday, selling 1,145.24 crore of shares, according to stock market data.
