Rupee, on Tuesday, fell 42 paise to end at 81.92 against US dollar ahead of the Union Budget 2023 announcement due tomorrow. Earlier in the session, the rupee opened 10 paise lower at 81.60 vs dollar amid steadiness in the value of greenback against a basket of six peers.
Global crude oil benchmarks were trading lower, supporting the currency. The dollar index — which measures the American currency against the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc and the euro — was trading flat near 102.
Crude oil prices moved lower on Monday. Brent crude futures were trading 0.3 percent lower at $84.2 per barrel at the last count. WTI futures, too, were trading 0.4 percent lower at $77.6 per barrel at the last count.
"A range of 80.80 to 82.20 levels is likely to remain in place as gains past 80.80 could be limited by RBI and losses shall be capped around 82.00-82.20 levels amid an otherwise stable position. Hence, 80.80-81.20 makes for a good buying zone, and between 81.80-82.20, selling can be initiated," said Amid Pabari of CR Forex.
Indian equity benchmarks BSE Sensex and NSE Nifty50 ended choppy trade with minor gains on Tuesday.
First Published: Jan 31, 2023 9:54 AM IST
