The rupee inched up one paisa at 83.49 (provisional) against the US dollar on Tuesday as gains from strong domestic equities and sliding global crude prices were negated by a surging greenback overseas.<\/p>\n
At the interbank foreign exchange market, the rupee started slightly up at 83.49 and hit an intra-day high of 83.47 and a low of 83.51 against the American currency during the session.<\/p>\n
It finally settled at 83.49 against the dollar, registering a gain of one paisa over the previous close.<\/p>\n
On Monday, the rupee settled at 83.50 against the US dollar.<\/p>\n
“Indian rupee gained today on optimism as Nifty touched fresh all-time highs and fresh FII inflows. A decline in crude oil prices also supported the rupee. However, a positive US dollar capped sharp gains. The US dollar gained on weak Euro amid political uncertainty in France,” Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said.<\/p>\n
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.06 per cent to 104.72.<\/p>\n
Brent crude futures, the global oil benchmark, declined 0.66 per cent to USD 85.18 per barrel.<\/p>\n
In the domestic equity market, the 30-share BSE Sensex jumped 391.26 points or 0.49 per cent to close at 80,351.64. The broader NSE Nifty gained 112.65 points, or 0.46 per cent, to 24,433.20.<\/p>\n
Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday, as they purchased shares worth Rs 60.98 crore, according to exchange data. <\/p>\n