The rupee gains 30 paise to 76.32 in early trade against the US dollar

In the previous session, the rupee settled at 76.62 against the US dollar

In the previous session, the rupee settled at 76.62 against the US dollar

The rupee appreciated 30 paise to 76.32 against the US dollar at the open on March 16, following positive domestic stocks and a fall in crude oil prices.

On the interbank foreign exchange exchange, the rupee opened at 76.40 against the US dollar, then gained further ground to trade at 76.32, up 30 paise from the last close.

In the previous session, the rupee had settled at 76.62 against the greenback.

The dollar index, which measures the greenback’s strength against a basket of six currencies, traded 0.21% lower to 99.89 as investors awaited the Federal Reserve’s policy decision.

The Indian rupee opened a stronger pursuit of the overnight sell-off in crude oil prices, said Sriram Iyer, senior research analyst at Reliance Securities.

Competitors from Asia and emerging markets were stronger ahead of the Fed meeting outcome and could boost sentiment in domestic markets, Mr Iyer noted.

On the domestic stock market front, the 30-piece Sensex traded 734.57 points, or 1.32%, higher to 56,511.42, while the broader NSE Nifty was up 217.80 points, or 1.31%, to 16,880.80.

Global oil benchmark Brent crude futures were up 0.87% to $100.78 a barrel.

Foreign institutional investors were net sellers in the capital market on Tuesday, selling ₹1,249.74 crore of shares, according to stock market data.

Leave a Reply

Your email address will not be published. Required fields are marked *