Rupee gains 23 paise against US Dollar tracking domestic equities

29 Mar 2022 , 11:50 AM

The Indian rupee gained against the US dollar in the early morning trade on Tuesday, amid a positive trend in domestic equities and softening global crude oil prices. Besides, weak American currency in the overseas market also pushed the domestic currency.

At the interbank foreign exchange, the rupee opened higher by 75.97 against the US dollar and rose further ground to quote at 75.93/$, a rise of 23 paise over the previous close.

On Monday, the local unit had settled at 76.16 against the greenback.

On the domestic front, BSE Sensex is 57,851.64 up 258.15 points or 0.45%. The Nifty50 is currently 17,292.45 up 70.45 points or 0.41%.

Besides, foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs801.41 crore on Monday, according to stock exchange data.

Meanwhile, international oil benchmark Brent crude declined by 1.30 per cent to USD 111.02 per barrel.

On the currency front, the yen was in focus after the Bank of Japan’s offer Monday to buy unlimited amounts of 10-year JGBs at 0.25% for the first four days of this week. The yen fell and was the last trading at 123.25 per dollar as it hovered near a six-year low.