Rupee rises 15 paise to 75.58 in early trade as equities open positive; US dollar weakens overseas
The rupee appreciated by 15 paise to 75.58 against the US dollar in early trade on Tuesday tracking positive opening of domestic equities and weakness in the American currency
Mumbai: The rupee appreciated by 15 paise to 75.58 against the US dollar in early trade on Tuesday tracking positive opening of domestic equities and weakness in the American currency.
Forex traders said a positive start of domestic stocks supported the local unit, while sustained foreign fund outflows and concerns over coronavirus outbreak weighed on the local unit.
At the interbank foreign exchange, the rupee opened at 75.62, then gained ground to touch 75.58, registering a rise of 15 paise over its previous close.
On Monday, the rupee had settled at 75.73 against the US dollar.
Domestic bourses were trading on a positive note on Tuesday with the benchmark Sensex trading 256.81 points higher at 31,972.16 and broader Nifty rising 132.85 points to 9,426.35.
Meanwhile, the dollar index, which gauges the greenback''s strength against a basket of six currencies, was trading 0.01 percent down at 99.47.
Traders said investor sentiments remained fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as the global economy.
In India, the death toll due to COVID-19 rose to 1,568 and the number of cases climbed to 46,433 on Tuesday, according to the health ministry.
The number of cases around the world linked to the disease has crossed over 35.84 lakh and the death toll has topped 2.51 lakh.
Meanwhile, foreign institutional investors were net sellers in the capital market, as they sold equity shares worth Rs 1,373.98 crore on Monday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, rose 4.60 percent to $28.45 per barrel.
India logs 2,202 new COVID-19 cases in last 24 hours, down 11.45% from day ago; daily positivity rate up at 0.74%
India now has 17,317 active cases of COVID-19, a decline of 375 cases in the active caseload in a span of 24 hours. The active cases now comprise of 0.04 per cent of the total infections
The Drugs Controller General of India (DCGI) had granted permission in March for conducting Phase-3 clinical trial of Covovax as a booster dose in adults
Delhi had reported 377 new Covid cases and one more death on Monday, while the positivity rate was 3.37 percent