Rupee falls 6 paise to 82.62 against US dollar

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The rupee fell 6 pounds to 82.62 against the US dollar in early trading on Tuesday amid a stronger dollar and mixed global signals.

Dealers said that the decline in crude oil prices and the stability of Asian currencies and positive sentiments in the local stock market limited the decline of the rupee.

In the interbank foreign exchange market, the local unit opened stronger at 82.54 against the dollar. It traded between 82.53 and 82.62, a decrease of 6 pounds from its previous close.

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On Monday, the rupee settled at 82.56 against the US dollar.

“While the swing appeared higher as we expected, the area of ​​82.66, which we were lining up to be the main pivot, was enough to hamper the upside momentum. We are back in a sideways range with a moderate bearish bias with 82.24 as support, but expect the gains to gain momentum if 82.81 is restored, Anand James, Chief Market Strategist at Geojit Financial Services.

Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, rose 0.07 percent, at 103.36.

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The global oil benchmark, Brent crude futures, fell 1.08 percent to $72.99 a barrel.

30 servings of mad cow Sensex It traded 199.45 points, up by 0.35 percent, at 57,828.40 points, while the broader NSE index rose. elegant up 51.05 points, or 0.30 percent, at 17,039.85 points.

Investors traded cautiously awaiting the interest rate decision before US Federal Reserve on Wednesday even as they worried about the health of the global banking system.

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Foreign Institutional Investors (FIIs) were net sellers in the domestic capital market on Monday as they unloaded shares worth Rs 2,545.87 crore, according to exchange data.