Rupee falls 22 paise to 75.95 against US dollar in early trade
Forex traders said the local unit opened weak against the greenback tracking gains in the US gollar. Moreover, selloff in domestic equities and rising coronavirus cases in the country weighed on investor sentiment.
The local unit opened at 75.89, then lost further ground and fell to 75.95 against the US dollar, down 22 paise over its previous close.It had settled at 75.73 against the US dollar on Monday.
On the domestic front, market participants will be keeping an eye on inflation and Index of Industrial Production number that will be released later in the day.In India, the death toll due to COVID-19 rose to 2,293 and the number of cases climbed to 70,756 in the country on Tuesday, according to the Health Ministry.
Domestic bourses were trading on a negative note on Tuesday with the benchmark Sensex falling 456.48 points at 31,104.74 and the broader Nifty slumping 126.95 points at 9,112.25.Foreign institutional investors were net buyers in the capital market, as they bought equity shares worth Rs 534.87 crore on Monday, according to provisional exchange data. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 100.27.
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- Earth's satellites, power grids and planes may have more time to prepare against the threat of solar flares
- These are India’s top 10 'most livable' cities, according to the government's Ease of Living Index 2020
- Flipkart is reportedly looking to list in US via a blank cheque firm
- Smartphone brand OPPO will launch new fitness band on March 9
- Ahead of its electric three-wheeler launch, EV startup Euler Motors raises ₹30 crore