Rupee opens higher at 86.71, up 10 paise against dollar

The Indian rupee rose 10 paise to 86.71 against the US dollar on Tuesday morning, following the strength of other Asian currencies and support from positive stock market trends in India. 

 According to Forex traders, rupee's gains were limited as investors remained cautious about the economic impact of rising global trade tensions.  

At the interbank foreign exchange market, the rupee opened at 86.71 per dollar, gaining 10 paise from its previous close. On the previous day, the rupee had opened at 86.90 and reached an intra-day high of 86.76 and a low of 86.90 against the US dollar. It eventually settled at 86.81 per dollar, marking a 24-paise gain from its last closing level.

Meanwhile, other Asian currencies also showed small gains—the Chinese yuan (CNH) rose to 7.2338, the Indonesian rupiah (IDR) was at 16,395, and the South Korean won (KRW) stood at 1,445.  

Also Read: Rupee hits three-week high at 86.80 against US dollar

Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP,  said that the US dollar weakened due to concerns that former US President Donald Trump's aggressive tariff policies could slow down the global economy.  

Meanwhile, the US dollar index, which measures the dollar’s value against six major currencies, increased 0.19 per cent to 103.56. Global oil prices also saw a slight rise, with Brent crude trading at 71.22  dollar per barrel, up 0.21 per cent.  

Also Read: First Trade: Sensex gains 353 points, Nifty tops 22,626 levels

Sensex up 353 points, Nifty crosses 22,626  

The Indian stock markets opened higher on Tuesday, taking cues from positive Asian markets ahead of the US Federal Reserve's key policy decision. While the Nifty50 index rose 0.52 per cent (117.7 points) to 22,626.45.  The BSE Sensex gained 0.48 per cent (353 points) to 74,523.06.  Small-cap stocks performed better than the broader market indices, showing strong gains.