The Indian rupee weakened by 26 paise, reaching 86.57 per dollar in early trading on Tuesday. This decline is largely due to ongoing demand for dollars from oil importers.
Forex traders have noted that the rupee is facing pressure from the continuous withdrawal of foreign capital and the strength of the US dollar in the global market.
The rupee opened at 86.53 against the US dollar in the Interbank Forex Exchange Market but then slipped to 86.57, marking a fall of 26 paise compared to the previous closing price. On Monday, the rupee had already weakened by nine paise, closing at 86.31 against the dollar.
In related news, the dollar index, which measures the US dollar against six major currencies, increased by 0.49 percent to 107.86. Additionally, international standard Brent crude saw a slight rise of 0.06 percent, reaching $77.13 per barrel.
On the stock market front, foreign institutional investors (FIIs) were active sellers on Monday, offloading shares worth Rs 5,015.46 crore.
| Parameter | Value |
|---|---|
| Current Rupee Rate | 86.57 per dollar |
| Change in Rate | Weakened by 26 paise |
| Opening Rate | 86.53 per dollar |
| Previous Day’s Close | 86.31 per dollar |
| Dollar Index Increase | 0.49% to 107.86 |
| Brent Crude Price | $77.13 per barrel |
| FIIs Selling Amount | Rs 5,015.46 crore |
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