The rupee opened lower by 14 paise at 76.05 against the US dollar
The rupee opened lower by 14 paise at 76.05 against the US dollar
The rupee on Tuesday closed 14 paise lower at 76.05 against the US dollar in early trade, tracking a firming US currency in the overseas market and a negative trend in domestic equities.
At the interbank foreign exchange, the rupee opened at 76.05 against the US dollar, registering a decline of 14 paise over its previous close.
The rupee on Monday rose marginally to 75.91 against the US dollar.
“Most Asian and emerging market peers are trading weak against the US dollar this Tuesday morning, and bullish crude oil prices may weigh on sentiments,” said Sriram Iyer, Senior Research Analyst, Reliance Securities.
However, the bigger trigger for the markets will be the Indian and US CPI inflation data, Mr Iyer said.
Global oil benchmark Brent crude futures rose 1.73% to $100.18 per barrel.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.07% to 99.99.
On the domestic equity market front, the 30-share Sensex was trading 479.46 points or 0.81% lower at 58,485.11, while the broader NSE Nifty slipped 172.75 points or 0.98% to 17,502.20.
Foreign institutional investors remained net sellers in the capital markets on Monday as they offloaded shares worth Rs 1,145.24 crore, according to stock exchange data.