Rupee opens 14 paise higher against dollar

The Indian rupee opens 14 paise higher against dollar on Tuesday. The currency started at 74.13 per dollar against previous close of 74.27. On Monday, the rupee had settled lower as concern over the economic fallout from the coronavirus pandemic outweighed the US Fed's emergency interest rate cut and the RBI's liquidity enhancing measures.

Most Asian shares, meanwhile, fell on Tuesday a day after Wall Street's historic market rout, with fleeting initial gains evaporating as the coronavirus remained a major risk to economic growth. MSCI's broadest index of Asia-Pacific shares outside Japan gave up early gains to trade 0.43 percent lower.

Oil prices rose more than $1 on Tuesday as the recent sharp falls due to the coronavirus pandemic encouraged bargain hunters to come forward.