The rupee depreciated 9 paise to 79.04 against the US dollar in opening trade on Tuesday, weighed down by persistent foreign funds outflows.
At the interbank foreign exchange, the rupee opened at 79.04 against the US dollar, registering a decline of 9 paise over the last close.
On Monday, the rupee had closed at 78.95 against the US dollar.
According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee is expected to remain range-bound against the dollar this Tuesday.
"Stronger crude oil, weak Asian and emerging market currencies, a rising dollar and benchmark bond yields could keep appreciation bias capped. However, equity futures in Asia have started with gains and could cap depreciation bias," Iyer said.
On the domestic equity market front, the 30-share Sensex was trading 267.65 points or 0.50 per cent higher at 53,502.42, while the broader NSE Nifty advanced 89.10 points or 0.56 per cent to 15,924.45.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 105.14.
Global oil benchmark Brent crude futures fell 0.03 per cent to USD 113.47 per barrel.
Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs 2,149.56 crore, as per exchange data.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app