At 9:35 AM, IST, the currency was trading at 68.81 against the dollar. The unit ended on a flat note on Monday at 68.96/$
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The Indian rupee gained 19 paise on Tuesday to trade at day’s high level of 68.76 against the greenback compared to its previous close of 68.96/$. The domestic unit opened 11 paise higher at 68.88/$.
At 9:40 AM, IST, the currency was trading at 68.81 against the dollar. The unit ended on a flat note on Monday at 68.96/$.
The appreciation could be attributed to weakening crude oil prices and firm global equity markets. Both crude oil price benchmarks, US West Texas Intermediate (WTI) and Brent, have slumped by ~3% in the last week. The fall is on the back of resurfacing concerns about a potential US recession. Additionally, the downturn in manufacturing activity in Germany, the biggest economy of Europe, kept oil prices under pressure.
Meanwhile, equity benchmark indices were trading in the green on Tuesday taking cues from Asian markets. The Sensex was trading 97 higher at 37,910 levels and the Nifty gained 33 points to trade at 11,388 levels.
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