Due to the weakness of the American currency in global markets at the start of Tuesday trading, the rupee has gained 7 paise and settled down at 82.56. It is estimated that the RBI is expected to not change repo rates, which are at 6.5 right now.
As the rupee is trading at its lowest levels in global markets, traders in the market are very attentive to the unchanged RBI’s monetary policy.
When compared to its previous close, the rupee opened at 82.56, indicating a gain of 7 paise over the US dollar at Interbank Foreign Exchange.
The exchange rate of the Indian rupee over the US dollar closed at 82.36 at the end of Monday trading hours on Nasdaq. US indices dropped 0.04% and settled at 103.96, which has power to estimate six currencies over the globe.
Global oil futures also dipped to 0.20% and recorded 76.56 dollars.
In Indian equity markets, the SENSEX gained 51.08 points and settled at 62,838 points, noting a profit of 0.08 %. Whereas NIFTY gained 0.1% and settled down at 18,612 points.
According to the data of exchanges for foreign institutional investors (FII)) there were more net sellers who sold shares valued at 700.98 crores into the market.
CR Forex Advisors MD Amit Pabari commented, “”The USDINR pair has entered a consolidation phase and is likely to move within the 82.20-82.85 range for a couple of sessions.”
