Rupee Falls 9 Paise to 79.04 Against US Dollar in Early Trade

Mumbai: The rupee depreciated 9 paise to 79.04 towards the US greenback in opening commerce on Tuesday, weighed down by persistent international funds outflows. At the interbank international change, the rupee opened at 79.04 towards the US greenback, registering a decline of 9 paise during the last shut.

On Monday, the rupee had closed at 78.95 towards the US greenback. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee is anticipated to stay range-bound towards the greenback this Tuesday.

“Stronger crude oil, weak Asian and emerging market currencies, a rising dollar and benchmark bond yields could keep appreciation bias capped. However, equity futures in Asia have started with gains and could cap depreciation bias,” Iyer mentioned. On the home fairness market entrance, the 30-share Sensex was buying and selling 267.65 factors or 0.50 per cent larger at 53,502.42, whereas the broader NSE Nifty superior 89.10 factors or 0.56 per cent to fifteen,924.45.

Meanwhile, the greenback index, which gauges the buck’s power towards a basket of six currencies, was at 105.14. Global oil benchmark Brent crude futures fell 0.03 per cent to USD 113.47 per barrel.

Foreign institutional buyers remained internet sellers within the capital market on Monday as they offloaded shares price Rs 2,149.56 crore, as per change information.


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