Rupee falls 11 paise to 82.97 against U.S. dollar in early trade
The Hindu
The rupee depreciated against the US dollar due to a strong American currency and volatile crude oil prices.
The rupee reversed its nine-day upward movement and depreciated 11 paise to 82.97 against the US dollar in early trade on Tuesday, tracking a strong American currency against major overseas rivals and subdued equity market sentiment.
Some inflow of foreign funds supported the rupee which was weighed down due to volatile crude oil prices, forex traders said.
At the interbank foreign exchange, the domestic currency opened weak at 82.95 and slipped further to 82.97 against the greenback in initial trade, registering a loss of 11 paise from its previous close.
On Monday, the rupee settled with a gain of 9 paise at 82.86 against the U.S. dollar. This was ninth consecutive day of gain for the Indian currency.
In the last nine trading sessions, the local unit added 46 paise since the level of 83.32 against the dollar recorded on January 2.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.31% higher at 102.63 on Tuesday.
Brent crude futures, the global oil benchmark, inched up 0.01% to $78.16 per barrel.
Viatris faces U.S. FDA import alert for products from Indore plant, exceptions made for certain shortages.
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.
Adani Group acquires Air Works, India's largest MRO company, expanding its aviation services with a ₹400 crore deal.