Rupee inches 3 paise higher to 76.90 against U.S. dollar
The Hindu
Deepening Russia-Ukraine conflict causing limited appreciation of rupee
The rupee inched higher by 3 paise to close at 76.90 (provisional) against the US dollar on Tuesday, tracking positive domestic equities and a weak dollar.
At the interbank forex market, the local unit opened at 77.02 against the greenback and witnessed an intra-day high of 76.71 and a low of 77.05.
The rupee finished at 76.90, registering a rise of 3 paise over its previous close.
On Monday, the rupee fell for the fourth straight session and tanked 76 paise to close at 76.93, after touching its lifetime low of 77 against the US dollar, as crude oil prices climbed to multi-year highs amid the Russia-Ukraine crisis.
Forex traders said the appreciation in the rupee was limited as the deepening Russia-Ukraine conflict has sapped risk appetite in the market, pushing investors towards safe-haven assets.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, declined 0.18% to 99.11.
On the domestic equity market front, the BSE Sensex ended 581.34 points or 1.10% higher at 53,424.09, while the broader NSE Nifty rose 150.30 points or 0.95%to 16,013.45.
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