On Tuesday, the rupee fell 28 paise to close at 81.70 (provisional) against the US dollar as unabated foreign fund outflows weighed on market sentiment.
However, a weak dollar and a drop in crude prices limited the local currency’s losses, according to forex traders.
The rupee opened lower at 81.61 to the dollar in the interbank foreign exchange market, compared to the previous close of 81.42. During the day, the local unit fluctuated between 81.43 and 81.76.
The rupee fell 25 paise against the US dollar on Monday, closing at 81.42.
Meanwhile, the US dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.01 percent to 102.15 due to concerns about US economic growth.
The Brent’s crude was trading 0.41 per cent lower at USD 87.83 per barrel.
On the domestic equity front, the 30-share BSE Sensex finished nearly flat at 60,978.75, up 37.08 points or 0.06 percent. The NSE Nifty gained 0.25 points to 18,118.30.
According to exchange data, foreign institutional investors (FIIs) were net sellers in the capital market on Monday, selling shares worth Rs 219.87 crore.
Source:FE