Dubai – Strengthening crude oil costs and risk-off sentiments may weigh on the markets
The Indian rupee depreciated 32 paise to 74.63 towards the US greenback (20.33 versus the UAE dirham) in opening commerce on Tuesday, monitoring the power of the American forex within the abroad market and a muted development in home equities.
On the Indian interbank overseas change, the rupee opened on a weak observe at 74.63, registering a decline of 32 paise from the final shut.
The greenback index, which gauges the dollar’s power towards a basket of six currencies, rose 0.22 per cent to 93.98.
Sriram Iyer, senior analysis analyst at Reliance Securities, mentioned the Indian rupee opened weak this Tuesday morning towards the greenback, monitoring the power of the dollar.
Moreover, strengthening crude oil costs and risk-off sentiments may weigh on the markets, he mentioned.
Most rising market and Asian currencies have began weaker this Tuesday morning and can weigh on sentiments, Iyer famous.
On the Indian fairness market entrance, the 30-share Sensex was buying and selling 107.03 factors or 0.18 per cent decrease at 59,192.29. The broader NSE Nifty was buying and selling 22.50 factors or 0.13 per cent down at 17,668.75.
(With inputs from PTI)