Tuesday’s opening trading saw the rupee rise 28 paise to 79.25 vs the US dollar, following the currency’s drop against its main rivals and foreign capital inflows.
At the interbank foreign exchange, the local unit struck 79.25 in first trades after starting at 79.30 versus the dollar, gaining 28 paise from its previous close. The rupee gained 4 paise on Monday, closing at 79.53 versus the dollar. The dollar index, which measures the strength of the dollar against a basket of six different currencies, decreased 0.12% to 108.20.
The benchmark for world oil, Brent crude futures, decreased 0.21 % to USD 93.80 a barrel. The 30-share BSE Sensex was trading 292.69 points, or 0.49 %, higher at 60,407.82 on the domestic equities market. The larger NSE Nifty also increased, rising 93.25 points, or 0.52 %, to 18,029.60.
According to preliminary statistics, Foreign Institutional Investors (FIIs) were net purchasers in the capital markets on Monday, buying shares worth Rs2,049.65 crore. Retail inflation in the United States increased to 7% in August as a result of rising food and gasoline prices, while industrial production fell to a four-month low of 2.4%.
On Monday, the finance minister blamed the increase in inflation on the base effect as well as higher costs for food and gasoline and emphasized that the effects of government actions to slow price growth will become more noticeable in the months to come.
For feedback and suggestions, write to us at editorial@iifl.com
IIFL Customer Care Number 
IIFL Capital Services Support WhatsApp Number
