[ad_1]
The Indian rupee strengthened by 8 paise to 81.60 against the US dollar (22.23 against the UAE dirham) in early trade on Tuesday, as foreign capital inflows and a firm trend in Indian equities boosted investor sentiment.
In addition, a weaker dollar in overseas markets also helped local units, foreign exchange traders said.
In the Indian interbank foreign exchange market, the rupee opened firmer at 81.58 per dollar before inching lower to 81.60, up 8 paise from its previous close.
In the previous session on Monday, the rupee gained 3 paise to close at 81.68 per dollar.
The U.S. dollar index , which measures the greenback’s strength against a basket of six currencies, fell 0.38% to 106.28.
Brent crude futures, the global oil benchmark, rose 1.39% to $84.35 a barrel.
In India, the 30-share BSE Sensex rose 164.06 points or 0.26 percent to 62,668.86. Likewise, the broader NSE Nifty rose 59.10 points or 0.32 percent to 18,621.85.
Foreign institutional investors (FIIs) were net sellers in capital markets on Monday, selling shares worth 9.35 billion rupees, exchange data showed.
S&P Global Ratings on Monday cut India’s economic growth forecast for the current fiscal year to 7 percent, but said the global slowdown would have less impact on the Indian economy.
(according to PTI input)
Copyright © 2022 Khaleej Times. all rights reserved. Supplied by SyndiGate Media Inc. (Syndicate Information).
[ad_2]
Source link