NEW DELHI: After six consecutive session of gains,
rupee slipped against the US
dollar in Tuesday's trade, as the greenback saw some buying by banks and exporters.
The domestic unit was down 33 paise at 68.86 against the dollar around 2:40 pm.
The rupee on Monday surged 57 paise to close at an over seven-month high of 68.53, marking a sixth straight session of gains, driven by sustained foreign fund inflows and narrowing trade deficit.
The rupee is the best performing emerging-market currency in the past one month due to an increase in overseas fund inflow ahead of this summer’s national balloting the Street expects the incumbent combine would win, ET had reported.
The unit has gained 4.1 per cent during the period beating its nearest rival, the Russian Ruble, by a wide margin, Bloomberg data showed.
Meanwhile, equity benchmarks today were trading with healthy gains on buying in heavyweights, including Reliance Industries, ITC, State Bank of India, NTPC and HDFC twins.