iPhone | iPad
Android
Huawei
Spot gold was last up 0.1 per cent at $1,825.29 per ounce on Tuesday morning
Markets6 days ago
KT APPDOWNLOAD
Indian rupee gains against UAE dirham in early trade
The dollar index was trading 0.21% lower at 101.54
PTI file
The Indian rupee appreciated 19 paise to 76.45 against the US dollar (20.83 against the UAE dirham) in opening trade on Tuesday, tracking positive trends among Asian and emerging market currencies.
At the Indian interbank foreign exchange, the rupee opened at 76.48 against the American dollar, then gained further ground to quote at 76.45, registering a rise of 19 paise from the last close.
On Monday, the rupee declined by 22 paise to close at 76.64 against the US dollar.
The rupee opened stronger against the US dollar this Tuesday as US bond yields and the dollar eased from their elevated levels, said Sriram Iyer, Senior Research Analyst at Reliance Securities.
Moreover, Asian and emerging market peers were slightly stronger on Tuesday, while a small recovery in the Asian equities could aid sentiments, Iyer added.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.21 per cent lower at 101.54.
"The US dollar has started flat to marginally weaker this early Tuesday morning in Asian trade tracking a slightly weaker bond yield. However, the downside could be capped on fears about the economic impact of China's Covid-19 lockdowns and an aggressive pace of US rate hikes," Iyer noted.
On the Indian equity market front, the 30-share Sensex was trading 706.63 points or 1.25 per cent higher at 57,286.52 points, while the broader NSE Nifty advanced 206.65 points or 1.22 per cent to 17,160.60.
ALSO READ:
Global oil benchmark Brent crude futures rose 1.33 per cent to $103.68 per barrel.
(with inputs from PTI)
More news from Markets
Long-awaited move is a crucial step in PM Modi’s drive to 'monetise and modernise' state-run companies
Markets6 days ago
Precious yellow metal price outlook is uncertain in the medium to long term due to geopolitical tensions and global economic slowdown
Markets6 days ago
Falling interest rates led to many more savers investing in stocks, real estate and cryptos, leading to price surges across these asset classes
Markets1 week ago
The index tumbled 5.8 per cent, its biggest intraday fall since March 2020, dragged down by a 8.5 per cent plunge in the UAE’s largest lender First Abu Dhabi Bank
Markets1 week ago
The inaugural issuance of the local currency treasury bonds program witnessed a strong appetite from investors in the region and globally being 6.3 times oversubscribed during the first auction that successfully concluded this week
Markets1 week ago
This is the first time the virtual currency has plunged so low
Markets1 week ago
The oil giant was valued at $2.42 trillion based on the price of its shares at close of market
Markets1 week ago