In the previous session, the rupee fell 54 paise to close at an all-time low of 77.44 against the US dollar
In the previous session, the rupee fell 54 paise to close at an all-time low of 77.44 against the US dollar
The rupee rose 20 paise to 77.24 against the US dollar in early trade Tuesday as a firm trend in domestic stock markets and falling global crude oil prices boosted investor sentiment.
Also, a weak US currency versus its global rivals also helped domestic unity, forex traders said.
However, rising concerns about higher interest rates and weakness in global economic growth kept the appreciation bias in check, they added.
On the interbank foreign exchange exchange, the rupee opened strong at 77.27 against the US dollar and strengthened to trade at 77.24 in early trade, up 20 paise from the last close. It ranged from 77.22 to 77.29.
In the previous session, the rupee fell 54 paise to close at an all-time low of 77.44 against the US dollar.
The dollar index, which measures the greenback’s strength against a basket of six currencies, slipped 0.07% to 103.58.
On the domestic stockmarket front, the 30-stock Sensex was up 138.53 points, or 0.25%, to 54,609.20, while the broader NSE Nifty was up 34.85 points, or 0.21%, to 16,336.70.
Global oil benchmark Brent crude futures fell 1.77% to $104.06 a barrel.
LIC’s mega IPO – India’s largest ever – closed on Monday with subscriptions nearly tripled, which was largely taken up by domestic retail investors and institutional buyers, but participation from overseas investors remained muted.
Overseas institutional investors remained net sellers in the capital market on Monday, as they sold ₹3,361.80 crore of shares, according to stock market data.
