Adani Group denied the allegations as baseless, while Indian government officials haven't commented so far
business3 days ago
The Indian rupee gained 11 paise to 82.68 against the US dollar (22.52 versus the UAE dirham) in early trade on Tuesday as the American currency retreated from its elevated levels.
Forex traders said sustained foreign fund outflows weighed on the rupee and restricted the appreciation bias.
At the Indian interbank foreign exchange, the South Asian currency opened at 82.69 against the dollar and marginally rose to 82.68, registering a rise of 11 paise over its previous close amid a positive trend in domestic equities.
On February 27, the rupee closed at 82.79 against the US currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.06 per cent to 104.73.
Brent crude futures, the global oil benchmark, advanced 0.17 per cent to $82.59 per barrel.
Forex traders said the rupee is likely to trade with a negative bias on risk aversion in global markets and positive greenback.
Moreover, month-end dollar demand from importers may also weigh on the rupee,” traders said.
In the Indian equity market, the 30-share BSE Sensex rose 84.34 points or 0.14 per cent to 59,372.69 points. The broader NSE Nifty advanced 11.15 points or 0.06 per cent to 17,403.85 points.
Foreign Institutional Investors (FIIs) were net sellers in the capital market on February 27 as they offloaded shares worth Rs20.22 billion, according to exchange data.
(With inputs from PTI)
ALSO READ:
Adani Group denied the allegations as baseless, while Indian government officials haven't commented so far
business3 days ago
Global philanthropists call for stronger networks, governance, and data-driven impact measurement
business3 days ago
Nasdaq-listed MakeMyTrip emerges as the market leader in UAE’s OTA air landscape
business3 days ago
Self-reliant India Mission showing striking results in the defence sector
business3 days ago
Parte Gulfeh is dedicated to upholding historic Chivalric traditions
business3 days ago
Revenues in Q3 2024 reached $1.86 billion, up 6.1% year on year
business3 days ago
Roundtable provides gateway to bilateral investment in green-tech and creative industries
business3 days ago
Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
business4 days ago