Rupee opens 11 paise lower against US dollar at 64.42

The rupee opened 11 paise down at 64.42 against dollar on Tuesday on account of buying of American currency by banks and exporters.

Angel Broking said, “On Tuesday, USDINR spot is likely to depreciate as recent robust release of labour data from the US will keep the American currency positive against the Indian Rupee.”

According to Nirmal Bang Commodities, USDINR is expected to move up to 64.62 during the day and can trade with a sideways to negative movement later in the day on Tuesday. “Trading in the expected intraday range of 64.38-64.62 is recommended,” the brokerage house said.

The local currency on Monday closed 7 paise up at 64.31 against dollar.

Meanwhile, domestic equity markets opened in green following firm Asian cues. The 30-share BSE Sensex opened 51 points, or 0.17 per cent, up at 29,977, while the 50-share NSE Nifty index opened 23.30 points, or 0.25 per cent, up at 9,337.

Foreign portfolio investors sold shares worth Rs 248.25 crore on Monday with gross purchases and gross sales of Rs 4,937.41 crore and Rs 5,185.66 crore, respectively.

Government bonds edged higher on Monday, as pro-European Union Emmanuel Macron won the French presidential election, spurring global risk appetite. The benchmark 6.97% 2026 bond yield declined to 6.93 per cent from 6.94 per cent on Friday.