Mumbai: The rupee appreciated by 10 paise to 73.20 against the US dollar in opening trade on Tuesday supported by positive domestic equities and strong Asian currencies.
At the interbank forex market, the local unit opened at 73.22 against the US dollar, then inched higher to 73.20 against the greenback, registering a rise of 10 paise over its previous close.
On Monday, the rupee had settled at 73.30 against the American currency.
“However, appreciation bias could be capped amid concerns that rising COVID-19 cases and subsequent lockdowns in some states may hurt economic recovery and cause foreign outflows,” Reliance Securities said in a research note.
Most of the Asian currencies were stronger this Tuesday morning and could lift sentiments, the note added.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 270.03 points higher at 49,429.35, and the broader NSE Nifty advanced 85.45 points to 14,723.25.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.05 per cent to 92.64.
Brent crude futures, the global oil benchmark, rose 0.76 per cent to USD 62.62 per barrel.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 931.66 crore on Monday, according to exchange data. (PTI)
Live Today, Love Today!
COVID vaccination & Cardiac ailments: Dispelling the myths
Parihaspora – The Smiling City of Lalitaditya
Withheld some a/cs within India, to continue advocating right of free expression: Twitter
New generation ICD with latest technology implanted at SSH Jammu
Rupee surges 23 paise to 74.70 against US dollar in early trade
Petrol price cut by 16 paise, diesel 14 paise
WPI inflation spikes to over 8-year high of 7.39% in March
Rupee falls 17 paise to 75.22 against US dollar in early trade
Forex Market Closed for ‘Gudi Padwa’
Download 10Cric Casino app, and enjoy Indias most popular casino games, directly on your mobile!
Gamble with real money online! Play Indias favourite casino games at 7Jackpots.com, Indias most trusted online casino site.
© 2020 State Times Daily Newspaper | Powered by Ideogram Technology Solutions [P] Ltd.