Rupee rises 37 paise to 81.30 against U.S. dollar; markets rebound

After a positive beginning, the 30-share BSE Sensex climbed 461.82 points to 57,607.04 in initial trade

The rupee appreciated 37 paise to 81.30 against the U.S. dollar in early trade on September 27, 2022 as the American currency retreated from its elevated levels.

At the interbank foreign exchange, the domestic unit opened at 81.45 against the dollar, then touched 81.30, registering a gain of 37 paise over its previous close.

On Monday, the rupee plunged 58 paise to close at an all-time low of 81.67 against the dollar.

According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee appreciated against the greenback as the dollar took a breather.

According to experts, focus will now shift to RBI's meeting this week, with its decision due on Friday.

"Most Asian and emerging market peers have started mixed, but a positive start in the equity futures could aid sentiments. The dollar index was marginally weaker, while the Euro, Sterling and the Yen strengthened against the greenback in this Tuesday morning trade," Iyer said.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.36 per cent to 113.69.