HomeBusinessRupee rises 28 paise to 79.25 against US dollar in early trade

Rupee rises 28 paise to 79.25 against US dollar in early trade

On Monday, the rupee had closed 4 paise higher at 79.53 against the US currency.

On Monday, the rupee had closed 4 paise higher at 79.53 against the US currency.

The rupee rose 28 paise to 79.25 against the US dollar in early trade on Tuesday, tracking the dollar’s fall and its key peers and foreign fund inflows.

At the interbank foreign exchange, the domestic unit opened at 79.30 against the dollar, then touched 79.25 in opening deals, registering a gain of 28 paise over its previous close.

on MondayThe rupee edged higher by 4 paise at 79.53 against the US currency.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12% to 108.20.

Global oil benchmark Brent crude futures fell 0.21% to $93.80 a barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 292.69 points or 0.49% higher at 60,407.82. Similarly, the broader NSE Nifty rose 93.25 points or 0.52% to 18,029.60.

Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 2,049.65 crore on Monday, according to provisional data.

On the domestic macroeconomic front, retail inflation rose to 7% in August due to higher food and fuel costs, while factory output fell to a four-month low of 2.4%.

The finance ministry on Monday attributed the rise in inflation to the base effect and the rise in food and fuel prices, and stressed that the government’s curbing of price hikes would be felt more significantly in the coming months. .

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