Rupee opens 5 paise higher against US dollar

NEW DELHI: The rupee on Tuesday opened 5 paise higher at 65.44 against the US dollar.

The domestic currency on Monday plunged 29 paise or 0.44 per cent to close at a six-month low of 65.49 against dollar on widening trade deficit concerns amid heightened geopolitical worries.

It was the lowest closing since October 3, 2017, when it had settled at 65.50 against the US dollar.

The Indian unit was the biggest loser among Asian currencies which suffered due to a strong US dollar after the strike on Syria by US, UK and France.

On the global front, oil prices rose on Tuesday amid worries there could be a high risk of disruptions to supply, especially in the Middle East. Brent crude oil futures were at $71.80 per barrel at 0120 GMT, up 38 cents, or 0.5 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were up 39 cents, or 0.6 per cent, at $66.61 a barrel, Reuters reported.

The domestic equity market opened on a positive note on Tuesday. At 09:20 am, the S&P BSE Sensex was trading 47 points higher at 34,352.33 with Power Grid (up 4 per cent) being the top gainer and Infosys (down 1 per cent) the worst laggard.

The broader Nifty50 index of National Stock Exchange (NSE) was trading at 10,540.10, up 12 points with 32 constituents in the green and 17 in the red.