New Delhi: Amid strong showing by the US Dollar in the international market, Indian Rupee opened at a near-record low of 83.73 against the US currency on Tuesday.
While forex traders say the decline in crude oil prices could help Rupee gain, the firm dollar overseas restricted gains for the Indian currency. Forex outflows and increases in demand usually seen end of month are also contributing to the poor showing of the Rupee, PTI reported.
Meanwhile, the Dollar index holds firmly above the 104-mark ahead of the Federal Reserve monetary policy meeting for any indications of a potential rate cut in September, Business Standard reported.
On the other hand, in the domestic equity market, the 30-share BSE Sensex rose 67 points to settle at 81,423.53. Nifty rose 25 points to 24,861.35 in early trade on Tuesday.
Meanwhile, the Sensex on Monday advanced 23.12 points (0.03%) to settle at 81,355.84 points.
The Dollar Index was 104.6070, slightly up by 0.04%. The Dollar Index measures the US currency strength based on a basket of six currencies.
The global benchmark of Brent crude futures dropped to $79.45 per barrel (0.41%).
According to the exchange data, foreign institutional investors (FIIs) emerged as net sellers in the capital markets on Monday, by selling shares worth Rs 2,474.54 crore.
