The Indian rupee on Tuesday fell 12 paise to 78.10 against the US dollar, as persistent foreign fund outflows and a rise in crude oil prices dampened investor sentiment.
The local currency opened at 78.00 and closed at 78.10 on the interbank foreign exchange market, down 12 paise from its previous closing. "After reaching an all-time high of 78.28 on June 13, the USD-INR has been trading in a range of 77.95 to 78.10." The dollar index, which measures the value of the dollar against a basket of six currencies, dropped 0.68 percent to 103.99.
In the Commodity market, the global oil benchmark, Brent crude futures, rose 1.68 percent to USD116.05 a barrel. On the Indian stock market front, the BSE Sensex closed the day 934.23 points, or 1.81 percent, higher at 52,532.07, while the broader NSE Nifty gained 288.65 points, or 1.88 percent, to 15,638.80.
According to stock exchange data, foreign institutional investors were net sellers in the capital market on Monday, offloading shares worth Rs 1,217.12 crore.
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