Rupee slips against US dollar in early trade
Key Highlights
The Indian rupee traded at 95.16 against the US dollar on Tuesday, falling 1 paisa from its previous close amid foreign fund outflows.
The Indian currency slipped slightly against the US dollar during Tuesday morning trading hours. This partially convertible unit reached a level of 95.16, which represents a decline of 1 paisa compared to the previous session closing value of 95.15 recorded on Monday.
The American currency gained strength as investors awaited the upcoming interest-rate announcement from the Federal Reserve. Market sentiment also faced pressure from Houthi-led attacks on oil infrastructure located in Saudi Arabia. Additionally, exchange data revealed that sold equities totaling ₹1,462.49 crore on a net basis during the previous trading day.
Throughout the early session, the exchange rate fluctuated between a high of 95.2450 and a low of 95.09. The Reserve Bank of India likely conducted market interventions, which assisted in restricting further depreciation of the currency. These combined factors contributed to the current trading position of the rupee against the dollar as market participants monitor global developments and domestic fund movements closely throughout the day.
Based on company and agency reports. For information only; not investment advice.