On Tuesday, Indian rupee remained flat on the stock market whereas the euro offset the strong Asian currencies and positive local equities. At 2:24 p. m., the partially convertible Indian rupee was little changed from Monday’s close and was traded at 45.0400/0425 per dollar. The euro was at $1.4273 on Tuesday whereas on Monday the euro was at $1.4209 at the end of local forex trade.
The dollar fell against six major Asian currencies and fell 0.1% at 75.384 points. On Monday, the dollar was at 75.544 points in the domestic currency trade. The benchmark share index gained 0.4% after a small decline on Monday.
On Tuesday, the rupee gained 4 paise in opening trade on the Interbank Foreign Exchange and was traded at Rs 44.99 per dollar. Forex dealers have predicted that the weakness of dollar against the euro and other Asian currencies overseas and a better opening in the stock market.
Indian rupee has declined 1% in this financial quarter and it’s considered as the worst performer among Asia’s 10 most-traded currencies after the Malaysian Ringgit and Thai baht.
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