Rupee vs Dollar: INR off record low, rises 37 paise to 81.30 in early trade
On Monday, the rupee plunged 58 paise to close at an all-time low of 81.67 against the dollar.
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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
04:03 PM IST