The rupee appreciated by 10 paise to 75.63 against the US dollar on Tuesday tracking positive opening of domestic equities and weakness in the American currency.
Forex traders said a positive start of domestic stocks supported the local unit, while sustained foreign fund outflows and concerns over coronavirus outbreak weighed on the local unit.
At the interbank foreign exchange, the rupee opened at 75.62, then moved in a range between 75.72 and 75.50. At 2.30 pm, the domestic currency was quoted at 75.63, registering a rise of 10 paise over its previous close.
On Monday, the rupee had settled at 75.73 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.01 per cent down at 99.47.
Traders said investor sentiments remained fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.
.
Meanwhile, foreign institutional investors were net sellers in the capital market, as they sold equity shares worth Rs 1,373.98 crore on Monday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, rose 4.60 per cent to $28.45 per barrel.