The rupee on Tuesday ended higher by 18 paise to 61.43 against the dollar on sustained selling of the US currency by banks and exporters.
The local unit resumed higher at 61.41 per dollar as against last Wednesday’s closing level of 61.61 per dollar at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 61.3025 and 61.4700 per dollar before finishing at 61.43 per dollar, showing a rise of 18 paise or 0.29 per cent.
“The rupee appreciated to 61.3025, taking cues from the dollar which is at present is trying to recover from Monday's fall in the global market. Investors preferred to book profit in the already elevated dollar,” Pramit Brahmbhatt, Veracity Group CEO, said.
In New York market, US dollar nursed heavy losses on Monday, having suffered its biggest one-day fall in a year as it reversed almost all of its US payrolls-inspired gains.
In the global market on Tuesday, the dollar was a tad higher against the yen in Asia trade early trade, trimming earlier gains after comments by Japanese Prime Minister Shinzo Abe about the debilitating effects of a weak yen on households and small and mid-sized companies.
Meanwhile, the BSE benchmark Sensex fell 296.02 points or 1.11 per cent to finish at 26,271.97.
Institutional investors (FPIs/FIIs) pulled out a massive Rs 332.84 crore from domestic markets.
