Rupee appreciates by 37 paise to 81.30 against US dollar

On interbank foreign exchange, the domestic unit opened at 81.45 against the dollar, then touched 81.30, registering a gain of 37 paise over its previous close

PTIUpdated: Tuesday, September 27, 2022, 11:06 AM IST
article-image
Representative Image | File

Mumbai: The rupee appreciated 37 paise to 81.30 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels.

At the interbank foreign exchange, the domestic unit opened at 81.45 against the dollar, then touched 81.30, registering a gain of 37 paise over its previous close.

On Monday, the rupee plunged 58 paise to close at an all-time low of 81.67 against the dollar.

According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee appreciated against the greenback as the dollar took a breather.

According to experts, focus will now shift to RBI's meeting this week, with its decision due on Friday.

"Most Asian and emerging market peers have started mixed, but a positive start in the equity futures could aid sentiments. The dollar index was marginally weaker, while the Euro, Sterling and the Yen strengthened against the greenback in this Tuesday morning trade," Iyer said.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.36 per cent to 113.69.

Brent crude futures, the global oil benchmark, rose 0.57 per cent to USD 84.54 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 176.91 points or 0.31 per cent up at 57,322.13 and the broader NSE Nifty rose 55.95 points or 0.33 per cent to 17,072.25.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 5,101.30 crore on Monday, according to exchange data.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

States capital spends go up by 2.2% in first half despite massive spike in revenues

States capital spends go up by 2.2% in first half despite massive spike in revenues

FMCG companies keeping close watch on softening commodity prices; may extend some benefits

FMCG companies keeping close watch on softening commodity prices; may extend some benefits

Private Security Day: Private security industry demands hike in FDI limit to 74%

Private Security Day: Private security industry demands hike in FDI limit to 74%

UAE second biggest tea importer from India after CIS block

UAE second biggest tea importer from India after CIS block

Apple fasts forwards plans to shift manufacturing from China to India, Vietnam

Apple fasts forwards plans to shift manufacturing from China to India, Vietnam