Last Update: September 06, 2022, 19:19 IST
The rupee finally closed at 79.80, down 2 paise from its previous close of 79.80.
The domestic currency opened at 79.80 per dollar in the interbank foreign exchange market. It ranged from 79.80 to 79.91 during the session
The rupee on Tuesday declined by 2 paise to 79.80 (provisional) against the US dollar amid a weak trend in domestic equity markets. The domestic currency opened at 79.80 per dollar in the interbank foreign exchange market. It ranged from 79.80 to 79.91 during the session.
The domestic unit finally closed at 79.80, down 2 paise from its previous close of 79.80. Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services, said, “The rupee traded in a narrow range and volatility was low as most market participants were on the sidelines after the US market holiday.”
Somaiya said the dollar hit a 20-year high against its key cross. “The focus will be on services that PMI numbers will be issued from the US. Better-than-expected data could boost profits for the greenback. We expect USD-INR (Spot) to trade sideways and place a bid in the range of 79.40 and 80.05,” Somaiya said.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.10 per cent higher at 109.64. Global oil benchmark Brent crude futures fell 3.05 per cent to $92.82 a barrel.
On the domestic equity market front, the BSE Sensex ended 48.99 points or 0.08 per cent lower at 59,196.99, while the broader NSE nifty It fell 10.20 points, or 0.06 per cent, to 17,655.60. Foreign institutional investors were net sellers in the capital markets on Monday as they sold shares worth Rs 811.75 crore, according to exchange data.
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