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The domestic unit opened at 79.30 against the dollar at the interbank foreign exchange, then touched 79.25 in initial deals, registering a gain of 28 paise over its earlier close
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The Indian currency appreciated 28 paise to 79.25 against the US dollar in opening trade on Tuesday, tracking the dollar's decline versus its major peers and foreign fund inflows.
The domestic unit opened at 79.30 against the dollar at the interbank foreign exchange, then touched 79.25 in initial deals, registering a gain of 28 paise over its earlier close. It’s the highest gain in the last five days.
Earlier day, the rupee rose 4 paise to close at 79.53 against the US dollar. American currency fell 0.12 per cent to 108.20. Which is considered the greenback's strength against a basket of six currencies
Brent crude futures and the global oil benchmark depletes 0.21 per cent to USD 93.80 per barrel.
The 30-share BSE Sensex was trading 292.69 points or 0.49 per cent up at 60,407.82 in the domestic equity market. As well, the broader NSE Nifty rose 93.25 points or 0.52 per cent to 18,029.60.
According to provisional data, Foreign Institutional Investors (FIIs) were net buyers in the capital markets, as they purchased shares worth Rs 2,049.65 crore on Monday.
On Monday finance ministry attributed the rise in inflation to the base effect and increase in food and fuel prices, and stressed central government steps to curb price rises will be felt more significantly in the coming months.