Indian Rupee: Sees Mild Recovery In Early Trades

1 Nov 2022 , 09:09 AM

The Indian rupee sees some recovery in opening trades on Tuesday, tracking weakness in the greenback overseas. Asian stocks are trading higher on Tuesday despite mild losses from Wall Street overnight as investors turned their focus to the Federal Reserves policy meeting this week for hints on what comes next. Domestic equity benchmarks ended near the days high with robust gains on Monday. The barometer index, the S&P BSE Sensex, jumped 786.74 points or 1.31% to 60,746.59. The Nifty 50 index gained 225.40 points or 1.27% to 18,012.20. Foreign portfolio investors (FPIs) bought shares worth Rs 4,178.61 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,107.10 crore in the Indian equity market on 31 October, provisional data showed. On Monday, rupee pared its initial gains and settled 31 paise lower at 82.78 against the US dollar. All eyes are on the outcome of the Feds two-day policy review following which the US central bank is widely expected to announce a hike in the key interest rate. Powered by Commodity Insights