Business

Rupee Rises 11 Paise To 82.68 Against US Dollar

The rupee gained 11 paise to 82.68 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels.
Forex traders said sustained foreign fund outflows weighed on the local unit and restricted the appreciation bias.

At the interbank foreign exchange, the domestic unit opened at 82.69 against the dollar and marginally rose to 82.68, registering a rise of 11 paise over its previous close amid a positive trend in domestic equities.

On Monday, the rupee closed at 82.79 against the US currency. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.06 per cent to 104.73.

“After marking a seven-week high, the DXY pulled back towards 104.60 levels after a higher-than-expected drop in US durable goods orders (measures the change in the total value of new orders for durable manufactured goods),” said Amit Pabari, MD, CR Forex Advisors.
Brent crude futures, the global oil benchmark, advanced 0.17 per cent to USD 82.59 per barrel.

Forex traders said the rupee is likely to trade with a negative bias on risk aversion in global markets and positive greenback. Moreover, month-end dollar demand from importers may also weigh on the rupee, they added.

Also read: Today, February 28, Check The Most Recent Fuel Prices In Your city

In the domestic equity market, the 30-share BSE Sensex rose 84.34 points or 0.14 per cent to 59,372.69 points. The broader NSE Nifty advanced 11.15 points or 0.06 per cent to 17,403.85 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs 2,022.52 crore, according to exchange data.

Source-PTI

Bharat Express English

Recent Posts

Centre Disburses Rs 1,162 Crore Under Telecom PLI Scheme

The Central government has disbursed ₹1,162 crore under the Telecom PLI Scheme till 31 March,…

1 hour ago

UAE Expands Visa-On-Arrival Policy For Indian Citizens To Boost Bilateral Ties

Under the revised rules, Indian passport holders with valid residence permits from Australia, Canada, Japan,…

3 hours ago

India’s Flavours, Culture & Heritage To Grace New York At ‘NMACC India Weekend’

India is all set to bring its essence of aroma, taste, and culture to the…

4 hours ago

Home Minister Amit Shah Rules Out Talks With Maoists Holding Weapons

Union Home Minister Amit Shah reaffirmed the Centre’s commitment to end Naxalism by 31 March…

4 hours ago

Gold, Silver Prices Fall Sharply This Week; Global Trends, Geopolitical Easing Behind Dip

There is some relief for buyers as gold and silver prices dropped notably this week.…

5 hours ago

Ethanol Blending Boosts Farmers’ Income, Saves Rs 1.36 Lakh Crore In Forex: Hardeep Puri

India’s ethanol blending programme has reduced the country's dependence on crude oil imports and increased…

6 hours ago