During the day, the rupee witnessed vary-certain commerce, it noticed an intra-day excessive of 83.25 and a low of 83.27 in opposition to the buck.
On Monday, the rupee traded on a flat notice and settled 1 paisa decrease at 83.26 in opposition to the US greenback.
The rupee settled flat at 83.26 (provisional) in opposition to the US greenback on Tuesday as weak home fairness markets and sustained overseas fund outflows weighed on investor sentiments. However, a decline in crude oil costs supported the native foreign money amid geopolitical tensions within the Middle East, foreign exchange merchants mentioned.
At the interbank overseas alternate, in a variety-certain commerce, the rupee opened at 83.26 and at last settled on the similar degree because the American foreign money.
During the day, the rupee witnessed vary-certain commerce, it noticed an intra-day excessive of 83.25 and a low of 83.27 in opposition to the buck.
On Monday, the rupee traded on a flat notice and settled 1 paisa decrease at 83.26 in opposition to the US greenback.
Meanwhile, the greenback index, which gauges the buck’s energy in opposition to a basket of six currencies, was buying and selling decrease by 0.07 per cent at 106.04.
Brent crude futures, the worldwide oil benchmark, rose 0.90 per cent to USD 88.24 per barrel.
“We expect the rupee to trade with a slight negative bias on geopolitical uncertainty in the Middle East which may lead to safe-haven demand for US Dollar. Month-end Dollar demand from Oil Marketing Companies (OMCs) may also weigh on Yen,” Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas mentioned.
However, the delayed floor invasion could assist riskier currencies at decrease ranges, Choudhary mentioned.
“Traders may take cues from India’s fiscal deficit and US CB consumer confidence data. Investors may remain cautious ahead of the FOMC meeting later this week. USD/INR spot price is expected to trade in a range of Rs 83 to Rs 83.60,” he mentioned.
On the home fairness market entrance, the BSE Sensex closed 237.72 factors or 0.47 per cent decrease at 63,874.93.
The broader NSE Nifty declined 61.30 factors or 0.32 per cent to 19,079.60.
According to alternate information, Foreign Institutional Investors (FIIs) had been internet sellers within the capital market on Monday as they offloaded shares price Rs 1,761.86 crore.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – PTI)
