The Indian rupee breached its crucial level of 71/$ and depreciated 21 paise to trade at 70.97/$.
The Indian rupee appreciated 17 paise against the dollar in Tuesday’s morning session at 71.01 against the dollar. The domestic units opened 3 paise lower at 71.21/$ compared to its previous close of 71.18/$.
At 9:55 AM, IST, the currency was trading at 71.04/$. The unit appreciated 13 paise to close at 71.18/$ on Monday.
The appreciation was on the back of easing crude oil in global markets and a marginal weakness in the dollar against its major peers.
Besides, investors’ optimism ahead of index of industrial production (IIP) numbers for December and retail inflation for January also kept the domestic unit elevated.
Meanwhile, equity benchmark indices were trading marginally down on Tuesday
with the Sensex declining 57 points at 36,338 levels. Nifty also declined 21 points at 10,860 levels.