The rupee fell 14 paise to 76.05 against the US dollar in Tuesday’s opening session, following the US currency’s strengthening in the overseas market and a negative trend in domestic equities.
On the interbank exchange, the Rupee opened lower at 76.05 against the US Dollar, registering a decline of 14 paise from its previous close.
On Monday, the Rupee rose slightly to 75.91 against the US Dollar.
“Most Asian and emerging market peers are trading weaker against the US dollar on Tuesday morning, and the rebound in crude oil prices could weigh on sentiment,” said Sriram Iyer, senior research analyst at Reliance Securities.
However, the big trigger for the markets will be Indian and US CPI inflation data, Iyer noted.
The global oil benchmark, Brent futures, rose 1.73% to $100.18 a barrel.
Meanwhile, the dollar index, which gauges the strength of the greenback against a basket of six currencies, jumped 0.07% to 99.99.
On the domestic stock market front, the 30-stock Sensex traded 479.46 points or 0.81% lower at 58,485.11, while the broader NSE Nifty slipped 172.75 points, or 0. .98%, at 17,502.20.
Foreign institutional investors remained net sellers in the capital market on Monday as they dumped shares worth Rs 1,145.24 crore, according to stock market data.
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