Rupee opens 14 paise lower against US dollar at 64.64
The rupee opened 14 paise down at 64.64 against dollar on Tuesday on account of selling of American currency by banks and exporters. Meanwhile, domestic equity markets opened on cautious note.
According to Angel Broking, USDINR spot is likely to depreciate in Tuesday’s trade.
The local currency on Monday closed 6 paise down at 64.50 against dollar.
The BSE Sensex opened 2.45 points, or 0.01 per cent, up at 31,111.73, while NSE Nifty opened 14.25 points, or 0.15 per cent, down at 9,590.65.
On the near-term movement of rupee, Mustafa Nadeem, CEO, Epic Research said, “An immediate support is seen at 64-63.8 which if taken out then resumption of down move will occur while a close above 65 will move prices to 66.5-67. Traders should maintain a sell on rise strategy this week.”
Foreign portfolio investors sold shares worth Rs 316.10 crore on Monday with gross purchases and gross sales of Rs 4493.86 crore and Rs 4809.96 crore, respectively.
The benchmark 6.97 per cent 2026 bond yield rose slightly to 6.67 per cent on Monday from 6.65 per cent in the previous session.
According to Angel Broking, USDINR spot is likely to depreciate in Tuesday’s trade.
The local currency on Monday closed 6 paise down at 64.50 against dollar.
The BSE Sensex opened 2.45 points, or 0.01 per cent, up at 31,111.73, while NSE Nifty opened 14.25 points, or 0.15 per cent, down at 9,590.65.
On the near-term movement of rupee, Mustafa Nadeem, CEO, Epic Research said, “An immediate support is seen at 64-63.8 which if taken out then resumption of down move will occur while a close above 65 will move prices to 66.5-67. Traders should maintain a sell on rise strategy this week.”
Foreign portfolio investors sold shares worth Rs 316.10 crore on Monday with gross purchases and gross sales of Rs 4493.86 crore and Rs 4809.96 crore, respectively.
The benchmark 6.97 per cent 2026 bond yield rose slightly to 6.67 per cent on Monday from 6.65 per cent in the previous session.