𝗥𝘂𝗽𝗲𝗲 Settles Lower At 𝟵𝟰.𝟲𝟬 Against 𝗨𝗦 𝗗𝗼𝗹𝗹𝗮𝗿
The Indian rupee fell 2 paise to settle at 94.60 against the US dollar on Tuesday. This move ended a two-day period of gains.
Key Market Data:
- The rupee opened at 94.69.
- Trading ranged between 94.48 and 94.71.
- The previous close was 94.58.
- The dollar index stood at 99.61.
Factors Affecting the Currency:
- Foreign institutional investors sold equities worth Rs 749.18 crore.
- Lower crude oil prices provided support.
- Brent crude fell 1.68 per cent to $81.77 per barrel.
- Tensions in West Asia decreased due to a US-Iran peace framework.
- The reopening of the Strait of Hormuz affects global energy shipping.
Equity Market Performance:
- The BSE Sensex rose 544.15 points to 76,808.48.
- The NSE Nifty gained 135.25 points to close at 23,989.15.
Analyst Projections:
- Expected USD-INR spot price range: 94.10 to 94.90.
- Expected downward bias toward 94.10.
- Resistance level identified at 95.20.
Source: The Times of India