The greenback index, which gauges the dollar’s power in opposition to a basket of six currencies, rose 0.10 per cent to 101.47.
During the day, the rupee witnessed a excessive of 81.83 and a low of 82.15 in opposition to the dollar.
The rupee fell 27 paise to shut at 82.05 (provisional) in opposition to the US forex on Tuesday, weighed down by a robust dollar in opposition to main rivals abroad and a muted development in home equities.
At the interbank international alternate, the home unit opened at 81.84 in opposition to the greenback and slipped under the 82 ranges to shut at 82.05 (provisional), down 27 paise from its earlier shut.
During the day, the rupee witnessed a excessive of 81.83 and a low of 82.15 in opposition to the dollar.
On Monday, the rupee settled at 81.78 in opposition to the greenback.
The rupee depreciated and is at its lowest degree in two and half weeks on the optimistic US Dollar index. However, delicate crude oil costs cushioned the draw back, mentioned Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.
The greenback index, which gauges the dollar’s power in opposition to a basket of six currencies, rose 0.10 per cent to 101.47.
“US Dollar gained on danger aversion in world markets and because the Federal Reserve’s Senior Loan Officer Opinion Survey exhibits banks continued to tighten credit score situations for enterprise and households, nevertheless it was higher than anticipated,” Choudhary added.
Brent crude futures, the global oil benchmark, declined 0.88 per cent to USD 76.33 per barrel.
“We expect the rupee to trade with a negative bias on the strong Dollar amid safe haven appeal on the back of risk aversion in global markets and worries over a global economic slowdown.
“However, softening crude oil prices at higher levels and FII inflows may support the rupee at lower levels. Investors may remain cautious ahead of inflation data from India and the US later this week. We expect USD/INR spot to trade in between 81.60 to 82.75 in the near term,” Choudhary added.
On the home fairness market entrance, the 30-share BSE Sensex closed 2.92 factors decrease at 61,761.33. The broader NSE Nifty superior 1.55 factors to 18,265.95.
Foreign Institutional Investors (FIIs) have been internet consumers within the capital markets on Monday as they bought shares value Rs 2,123.76 crore, in accordance with alternate information.
Read all of the Latest Business News, Tax News and Stock Market Updates right here
(This story has not been edited by News18 workers and is printed from a syndicated information company feed)
