The rupee depreciated 9 paise to 79.04 in opposition to the US greenback in opening commerce on Tuesday, weighed down by persistent international funds outflows.
On the interbank international alternate, the rupee opened at 79.04 in opposition to the US greenback, registering a decline of 9 paise over the past shut.
On Monday, the rupee had closed at 78.95 in opposition to the US greenback.
In line with Sriram Iyer, Senior Analysis Analyst at Reliance Securities, the rupee is predicted to stay range-bound in opposition to the greenback this Tuesday.
“Stronger crude oil, weak Asian and rising market currencies, a rising greenback and benchmark bond yields may maintain appreciation bias capped. Nevertheless, fairness futures in Asia have began with positive aspects and will cap depreciation bias,” Iyer mentioned.
On the home fairness market entrance, the 30-share Sensex was buying and selling 267.65 factors or 0.50 per cent greater at 53,502.42, whereas the broader NSE Nifty superior 89.10 factors or 0.56 per cent to fifteen,924.45.
In the meantime, the greenback index, which gauges the buck’s power in opposition to a basket of six currencies, was at 105.14.
International oil benchmark Brent crude futures fell 0.03 per cent to $113.47 per barrel.
Overseas institutional traders remained web sellers within the capital market on Monday as they offloaded shares value Rs 2,149.56 crore, as per alternate knowledge.