The rupee appreciated 9 paise to 82.69 towards the U.S. greenback in early commerce on Tuesday, as crude oil worth retreated from its elevated ranges.
Foreign exchange merchants mentioned sustained international fund outflows weighed on investor sentiments and restricted the appreciation bias.
On the interbank international alternate, the home unit opened at 82.69 towards the greenback, registering an increase of 9 paise over its earlier shut.
On Monday, the rupee declined 17 paise to shut at 82.78 towards the U.S. greenback.
In the meantime, the greenback index, which gauges the dollar’s power towards a basket of six currencies, rose 0.03% to 103.55.
Brent crude futures, the worldwide oil benchmark, declined 0.30% to $85.65 per barrel.
“India’s December Manufacturing PMI got here in at 57.8 towards 55.7 in November. This reveals that the economic system continues to be resilient as has additionally been evident from different high-frequency indicators comparable to automotive gross sales and core sector information,” IFA World Analysis Academy mentioned in a analysis notice.
The rupee is more likely to commerce in an 82.55-82.85 vary with sideways worth motion, it added.
Within the home fairness market, the 30-share BSE Sensex was buying and selling 24.82 factors or 0.04% decrease at 61,142.97. The broader NSE Nifty fell 5.25 factors or 0.03% to 18,192.20.
Overseas Institutional Traders (FIIs) had been web sellers within the capital markets on Monday as they offloaded shares value ₹212.57 crore, in response to alternate information.