Indian rupee opens higher against UAE dirham for second consecutive day

The Indian rupee rose 18 paise to 82.17 against the US dollar (22.39 versus the UAE dirham) in early trade on Tuesday on easing crude oil prices.

Forex traders said sustained foreign fund outflows and a weak trend in Indian equities weighed on investor sentiments and restricted the appreciation bias.

At the Indian interbank foreign exchange, the South Asian currency opened at 82.20 against the dollar, then gained ground to touch 82.17, registering a rise of 18 paise over its previous close.

On Monday, the rupee settled at 82.35 against the dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to 103.21.

Brent crude futures, the global oil benchmark, fell 0.49 per cent to $79.26 per barrel.

In the Indian equity market, the 30-share BSE Sensex was trading 353.74 points or 0.58 per cent lower at 60,393.57 points. The broader NSE Nifty fell 82.55 points or 0.46 per cent to 18,018.65 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs2 billion, according to exchange data.

(With inputs from PTI)

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