Comments
The rupee depreciated 13 paise to close at 82.12 (provisional) against the US currency on Tuesday as dollar demand from importers weighed on investor sentiments.
At the interbank foreign exchange, the domestic unit opened at 81.96 against the dollar, and finally ended the day at 82.12 (provisional), 13 paise lower from its previous close.
During the day, the rupee witnessed a high of 81.96 and a low of 82.15 against the greenback.
The rupee on Monday rose 3 paise and settled at 81.99 against the US dollar.
Dilip Parmar, Research Analyst at HDFC Securities, said the Indian rupee erased Monday's gain following corporate dollar outflows and dollar demand from the importers.
"Local traders will eye tomorrow's inflation and IIP data for a directional move. The market consensus is expecting lower inflation numbers along with slower output growth," Parmar said.
Spot INR-USD may consolidate between 81.70 to 82.50 in the near-term, he added.
The dollar index fell 0.46 per cent to 102.10.
Brent crude futures, advanced 0.30 per cent to $84.43 per barrel.
On the domestic equity market front, BSE Sensex closed 311.21 points or 0.52 per cent higher at 60,157.72 points. NSE Nifty advanced 98.25 points or 0.56 per cent to 17,722.30 points.
Foreign institutional investors were net buyers in the capital market on Monday as they purchased shares worth ₹882.52 crore, as per exchange data.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.