The Rupee rose by 10 paise to 71.20 against the US dollar in opening trade on Tuesday, by a positive opening in domestic equities.
The rupee opened strong at 71,23 at the interbank forex market and gained further crushed to touch 71.20 against the greenback dollar, displaying gains of 10 paise against the US currency.
The Indian currency, the rupee had settled at 71.30 against the US Dollar on Monday. Forex traders said that positive opening in domestic equities supported the local unit while rising, foreign fund outflows, crude price, and strengthening of the American currency weighed on the rupee.
The benchmark BSE Sensex was trading with gains of 420.26 points or 0.99% to quota at 41,399.88 while the NSE Nifty was trading at 12,157.55, up 126.05 points or 1.05%.
Foreign official investors sold equities worth Rs 184.58 crore on a net basis on Monday, according to provisional exchange data.
Meanwhile, Brent crude, the global benchmark, was trading at $53.95 per barrel higher by 1.28%.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.02% to 98.85. The 10-year government bond yield was at 6.44%in morning trade.