The rupee depreciated 4 paise to 73.44 in opposition to the US greenback in opening commerce on Tuesday, monitoring the rebound within the American foreign money and muted opening of home equities.
At the interbank foreign exchange market, the home unit opened at 73.42 in opposition to the US greenback and fell to 73.44 in opposition to the dollar, registering a decline of 4 paise over its earlier shut.
On Monday, the rupee had completed at 73.40 in opposition to the American foreign money.
“Weak Asian currencies could continue to weigh on sentiment. However, foreign portfolio investor (FPI) flows into the domestic equity markets could cap losses,” Reliance Securities mentioned in a analysis word.
Meanwhile, the greenback index, which gauges the dollar’s energy in opposition to a basket of six currencies, rose 0.12 per cent to 90.57.
“US dollar index extended gains this Tuesday morning in Asian trade against major peers as the prospect of massive fiscal stimulus pushed US yields higher,” the word added.
The euro, sterling and Japanese yen have been flat in opposition to the US greenback this morning in Asian commerce.
On the home fairness market entrance, the 30-share BSE benchmark Sensex was buying and selling 81.23 factors decrease at 49,188.09, and the broader NSE Nifty was buying and selling greater by 0.05 factors at 14,484.80.
Foreign institutional buyers have been web patrons within the capital market as they bought shares price Rs 3,138.90 crore on a web foundation on Monday, in response to provisional change knowledge.
Brent crude futures, the worldwide oil benchmark, declined 0.13 per cent to USD 55.59 per barrel.
