Dollar to Rupee Rate The rupee is witnessing a fall in today’s trading session against the dollar. According to the Interbank Foreign Exchange, the rupee opened at 82.78 and soon touched 82.84, depreciating by 13 paise. The rupee had closed at 82.71 on Monday. Experts believe that the rupee can remain in a narrow range.
Dollar to INR The rupee declined by 3 paise to 82.84 against the dollar in early trade on Tuesday. The reason behind the fall in the rupee is the withdrawal of funds by foreign investors and increase in the price of crude oil.
It was said on behalf of Forex Traders that despite the positive atmosphere in the Indian stock market, the rupee is not getting support and it is declining.
How was the rupee trading against the dollar?
According to the Interbank Foreign Exchange, the rupee opened at 82.78 and soon touched 82.84, depreciating by 13 paise. The rupee had closed at 82.71 on Monday.
The dollar index, which shows strength against the world’s six currencies, remains above 104. It has seen a slight decline today. Brent crude remained at $ 88.96 per barrel, down 0.04 percent.
Gaurang Somaiya, Forex and Bullion Analyst, Motilala Oswal, said the rupee may see lower volatility due to subdued cues on global and domestic fronts. Today the focus of the market will be on the PMI data of the service sector. Further, we expect the rupee to trade in the range of 82.30 to 82.80 against the dollar.
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The 30-share BSE Sensex advanced 43.46 points, or 0.07 percent, to 65,671.60 and the NSE Nifty advanced 17.85 points, or 0.09 percent, to 19,546.65. According to exchange data, shares worth Rs 3,367.67 crore were sold by FIIs in Monday’s trading session.
