Rupee: Rupee slips by 7 paise to 74.26 from US dollar

MUMBAI: The Indian rupee slumped 7 paise to 74.26 from the US greenback in opening trade on Tuesday as a muted trend in domestic equities and organization crude oil rates weighed on investor sentiment. At the interbank overseas trade, the rupee opened decreased at 74.26 from the greenback, registering a tumble of 7 paise around its preceding close.

On Monday, the rupee had settled at 74.19 towards the US dollar.

“Asian currencies are buying and selling in a smaller array, and equities are not able to cross the new highs as delta furthermore variant of COVID keeps traders on edge,” Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, stated.

The variety for rupee for the day is 74.10 to 74.40, Bhansali additional.

Global oil benchmark Brent crude futures was down .51 per cent to $74.30 for every barrel.

In the meantime, the greenback index, which gauges the greenback’s energy towards a basket of six currencies, was trading .07 for every cent up at 91.95.

On the domestic fairness marketplace front, BSE Sensex was trading 148.85 points or .28 for every cent decrease at 52,586.74, though the broader NSE Nifty declined 43.25 factors or .27 for every cent to 15,771.45.

Foreign institutional investors have been net sellers in the money sector on Monday as they offloaded shares well worth Rs 1,658.72 crore, as for every trade data.