The rupee was buying and selling in a narrow range against the US dollar in the morning session on Tuesday, April 25, 2023, amid a weak American foreign money and a muted pattern in home equities.
Forex merchants stated international fund outflows additionally weighed on the native unit.
At the interbank international trade, the rupee opened at 81.95 against the dollar. It touched a excessive of 81.86 in preliminary offers.
The rupee on Monday settled at 81.92 against the US dollar.
Meanwhile, the dollar index, which gauges the dollar’s power against a basket of six currencies, was buying and selling at 101.33, down 0.02 per cent.
Global oil benchmark Brent crude futures declined 0.01 per cent to USD 82.72 per barrel.
On the home fairness market entrance, BSE Sensex was buying and selling 4.41 factors or 0.01 per cent decrease at 60,051.69 factors whereas the broader NSE Nifty declined 2.40 factors or 0.01 per cent to 17,741.00 factors.
Foreign institutional buyers have been web sellers in the capital market on Monday as they offloaded shares value Rs 412.27 crore, as per trade knowledge.
“Rupee will remain between the levels of 81.80 to 82.20 as RBI buys dollars at lower levels and inflows continue at higher levels to keep it well boxed in the small range for the moment,” Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP, stated.
