In the interbank forex market, the rupee opened at 73.83 and hit an intraday high of 73.76 and a low of 73.97. On Monday, the rupee stood at 73.95 against the US dollar.

The rupee gained for the second day in a row and closed 10 paise higher at 73.85 (tentative) against the US dollar on Tuesday.

In the interbank forex market, the rupee opened at 73.83 and hit an intraday high of 73.76 and a low of 73.97. On Monday, the rupee stood at 73.95 against the US dollar.

Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, jumped 0.42% to 91.33.

“The rupee has traded vigorously as the financial markets have seen some sell-off. There is some support for the USDINR at lower levels near 73.80 as crude prices maintain rates that can keep prices on the resistance of the rupee above 73.75. The rupee going forward can be seen in a range of 73.75 to 74.25, ”said Jateen Trivedi, senior research analyst at LKP Securities.

On the domestic stock market front, the BSE Sensex finished 465.01 points or 0.95% lower to 48,253.51, while the larger NSE Nifty fell 137.65 points or 0.94% to 14,496.50.

Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth ₹ 2,289.46 crore, according to exchange data.

Futures on Brent, the world’s benchmark for oil, rose 1.81% to $ 68.78 per barrel.

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